Union Budget 2026: Middle Class Hopes for Tax Relief, Simpler System

• The Union Budget 2026 will be presented on a Sunday for the first time, creating anticipation for new announcements.
• The new income tax law, effective April 1, 2026, will unify the income year and tax filing year, aiming for simplification.
• Revised return forms will require more detailed information, indicating a stricter, data-driven tax system.
• Experts advocate for increased standard deduction, expanded tax slabs, and simplified Capital Gains Tax to benefit the middle class.
• Clarity on exemptions for capital gains under Section 87A and timely guidelines for the new law are also key expectations.

Why It Matters: Middle class expects significant tax relief, simplification, and clarity from the Union Budget 2026 and new tax laws.