Budget 2026: Middle Class Tax Wishlist Revealed – Higher Exemptions, Simpler Rules Expected

• Tax experts anticipate significant relief for middle-class taxpayers in Union Budget 2026-27, focusing on stability and simpler compliance.
• Key expectations include higher basic exemption limits (from ₹6 lakh), increased standard deduction (to ₹1 lakh), and simpler tax slabs.
• Experts call for strengthening deductions for home loans (₹2 lakh to ₹3 lakh), NPS (₹50,000 to ₹1 lakh), and health insurance, especially under the new tax regime.
• There's a strong push for predictable capital gains tax rules, STT rationalisation, and clarity on the Income-tax Act, 2025 transition.
• Caution is advised on introducing inheritance or estate tax, with experts emphasizing policy stability for business continuity.

Why It Matters: Middle-class taxpayers and experts seek substantial relief, simpler rules, and long-term stability in Budget 2026.