By Admin 
Income Tax Budget 2026: This time, no major changes regarding income tax have been announced by the Central Government in the Union Budget. Due to which the taxpayers have not got any major relief. In this budget, the government has emphasized on maintaining stability in the tax system by avoiding frequent changes in the rules.
However, now the deadline for filing revised returns has been extended from December 31 to March 31. Due to which the taxpayers are expected to get some relief. Like before, taxpayers can choose between the old and new tax system. Let us know about this…
No change in tax slab
The government has not made any changes in the tax slab. If a taxpayer adopts the old tax system, then the tax free income limit for him still remains only Rs 2.5 lakh. However, under Section 87A of the Income Tax Act, one can get complete tax exemption on annual income up to Rs 5 lakh. That is, according to the old system, people earning up to this limit under the prescribed conditions do not have to pay tax.
At the same time, for those choosing the new tax system, the same system as before has been continued. In this, there is no tax on income up to Rs 4 lakh. Apart from this, under Section 87A, salaried individuals can avail tax relief on income up to Rs 12.75 lakh and other taxpayers can avail tax relief on income up to Rs 12 lakh. It is clear from this that the government has not made any major changes in both the regimes.
No change in standard deduction also
The government has decided to maintain the standard deduction at Rs 75,000 in this year’s budget. However, it was expected that it might increase. But the government has decided not to make any changes in it.
Also read: Budget 2026: Big announcement of the government in Budget 2026; Fiscal deficit will decrease, capital expenditure will increase