Budget 2026: Middle Class Demands Big Tax Relief, Simpler System

• Indian middle class seeks significant tax changes in Budget 2026, including broader tax slabs, higher exemptions, and simpler filing rules to reduce burden.
• Key demand: Raise the 30% tax slab from ₹24 lakh to ₹40-50 lakh, increasing take-home pay for salaried individuals.
• PHDCCI proposes a revised slab structure: 20% for ₹0-30 lakh, 25% for ₹30-50 lakh, and 30% for above ₹50 lakh.
• Taxpayers also want higher basic exemption, increased Section 87A rebate, and greater Section 80D limits for health insurance due to rising medical costs.
• Calls for increased home loan interest and medical expense exemptions, plus a simplified system with faster refunds and a unified tax structure.

Why It Matters: Middle class seeks substantial tax relief and simplification in Budget 2026 for higher disposable income.