Union Budget 2026: Middle Class Eyes Income Tax Relief, Simpler System

• Middle class anticipates significant income tax relief in Union Budget 2026, building on previous year's concessions.
• Key expectations include increasing tax exemption limits, reducing tax rates, and simplifying the tax system for easier ITR filing.
• Senior citizens hope for additional relief through higher basic exemption limits and improved tax structures for pension and interest income.
• The budget is expected to focus on reducing the overall tax burden and fostering new income and employment opportunities.
• The Cabinet Committee on Parliamentary Affairs (CCPA) proposed presenting the 2026-27 budget on February 1, potentially a historic Sunday presentation.

Why It Matters: Middle class has high hopes for income tax relief and a simpler tax system in the upcoming Union Budget 2026.