Budget 2026: Senior Citizens Eye Higher Tax Exemptions, Simplified Compliance

• Senior citizens anticipate increased income tax exemption limits and simplified tax compliance in Budget 2026-27.
• Experts suggest raising the Section 80TTB deduction limit for savings and fixed deposits, currently at 50,000 rupees.
• Demands include higher tax exemption under Section 80D and 80DDB for health insurance and treatment of chronic illnesses.
• Expectations also cover simplifying TDS/TCS processes, capital gains rebates, and boosting NPS participation with tax benefits.
• A comprehensive scheme for senior citizen home care, assisted living, and transitional care facilities is also sought, with related expenses potentially recognized for higher tax deductions.

Why It Matters: Senior citizens are hopeful for significant tax relief and simplified financial provisions in the upcoming Budget 2026.