Income Tax slabs FY 2025-26: Home loan relief, higher deduction limits among top Budget 2026 wishlist - Income tax slabs FY 2025-26: Budget 2026 wishlist

As the date for the Union Budget 2026 presentation nears, taxpayers are closely watching for possible changes to income tax slabs and deductions and rebates allowed under the old and new tax regimes. Some of the key changes that experts want in the Budget 2026 are- a higher standard deduction, revised home loan benefits, changes in Section 80C of the Income Tax Act, 1961, and a rebate under Section 87A. Experts believe there is scope for fine-tuning taxation rules to make them more taxpayer-friendly. Let’s go through income tax slabs in the old and new tax regimes and what experts expect Finance Minister Nirmala Sitharman to include in her Budget 2026 speech on Sunday (January 27, 2026). Income tax slabs FY 2025-26: Budget 2026 wishlist