Budget 2026: Taxpayers Eye Relief in Sitharaman's Upcoming Budget

• Finance Minister Nirmala Sitharaman will present the Union Budget 2026 on February 1, with a focus on making the new income tax regime attractive.
• The government aims to simplify tax administration, increase compliance, and provide relief to low-income taxpayers, rather than major new announcements.
• The Income Tax Act, 2025, replacing the 1961 Act, will be implemented from April 1, focusing on simplifying tax rules' language.
• Experts anticipate comprehensive tax rules for cryptocurrencies, addressing the current 30% flat tax on profits and 1% TDS.
• Taxpayers hope for increased tax benefits on home loans and deductions for health and life insurance under the new income tax regime.

Why It Matters: Taxpayers anticipate relief in Budget 2026, with potential changes in tax administration, crypto rules, and home loan benefits.