Budget 2026: Stability for Seniors, But No New Tax Relief

• Union Budget 2026 offers stability to senior citizens but lacks new direct tax relief or higher exemptions.
• Existing income tax exemption limits remain unchanged: Rs 3 lakh for 60-79 years and Rs 5 lakh for 80+.
• Long-standing demands like expanded medical expense relief and higher social security pensions were not addressed.
• Healthcare receives a quiet boost with NIMHANS 2.0 and upgrades to regional mental health institutes in Ranchi and Tezpur.
• The Income Tax Act, 1961 will be replaced by the New Income Tax Act, 2025 from April 1, 2026, aiming for simpler tax compliance.

Why It Matters: Budget 2026 provides stability for seniors but misses opportunities for new tax benefits and inflation relief.