Budget 2026: Understanding Current Income Tax Slabs Before Key Announcements

• Union Budget 2026 is highly anticipated, with income tax announcements being a key focus for taxpayers.
• The new tax regime for FY 2025-26 offers a full tax rebate for incomes up to ₹12 lakh, making earnings up to ₹4 lakh tax-free.
• New regime tax slabs range from 5% for ₹4-8 lakh to 30% for incomes above ₹24 lakh.
• The old tax regime allows for various deductions (e.g., Section 80C, 80D, home loan interest) with different slab rates.
• Senior citizens (60-79 years) have an exemption limit of ₹3 lakh, and super senior citizens (80+) up to ₹5 lakh under the old regime.

Why It Matters: Taxpayers should review current income tax slabs under both regimes ahead of Budget 2026 for informed decisions.