Finance Minister Nirmala Sitharaman presents the Union Budget on February 1. Middle-class taxpayers hope for big news.
The clock is ticking. Tomorrow, FM Nirmala Sitharaman will deliver her ninth Union Budget. Specifically, millions of salaried Indians are waiting. Last year, the government made income up to ₹12.75 lakh tax-free. Notably, people now want even more. Consequently, all eyes are on the Parliament.
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Table of Contents
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The Fight for a Higher Standard Deduction
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Current Tax Slabs: A Quick Look
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Expert Views: Will Slabs Change?
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Old vs New Tax Regime
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Conclusion
The Fight for a Higher Standard Deduction
Salaried workers face rising costs every day. First, many hope the standard deduction will go up. Specifically, it sits at ₹75,000 right now. Notably, experts want the FM to hike it to ₹1 lakh. Furthermore, this change would make income up to ₹13 lakh totally tax-free. Therefore, it is the top demand for 2026.
Current Tax Slabs: A Quick Look
Knowing your current tax is vital. Notably, the new regime is now the default choice. Specifically, it has more steps to lower your bill.
| Income Range | New Regime Rate |
| Up to ₹3 Lakh | Nil |
| ₹3L to ₹6 Lakh | 5% |
| ₹6L to ₹9 Lakh | 10% |
| ₹9L to ₹12 Lakh | 15% |
| Over ₹15 Lakh | 30% |
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Expert Views: Will Slabs Change?
Most experts do not expect a huge slab overhaul. Notably, a major tax cut happened just last year. However, there is a strong call to fix TDS rules. Specifically, the current system is too complex. Consequently, the government may simplify how tax is cut at the source to save time for all.
Old vs New Tax Regime
Which one is better for you? Specifically, the old regime allows for more deductions like LIC or home loans. Notably, the new regime offers lower rates but fewer breaks. Moreover, the government wants everyone to switch to the new system. In fact, most taxpayers have already made the jump.
Conclusion
Budget 2026 is a big moment for India. Specifically, the FM must balance the books while helping the middle class. Notably, even small tweaks to the standard deduction will mean more cash in hand. In conclusion, tomorrow’s speech will define the financial year for us all.
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