Economics · Economy

With reference to direct tax framework provisions in India, consider the following statements: I. Certain exemptions and deductions, including those relating to terminal benefits, have been rationalised under the simplified personal income tax regime. II. Virtual Digital Assets have been explicitly brought within the ambit of capital assets for the purpose of taxation. III. The old and new personal income tax regimes have been legally merged into a single uniform structure. How many of the above statements are correct?