Budget 2026 Delivers Relief: Middle Class Gets Zero Tax Up to ₹12 Lakh, Compliance Simplified for Households

Zero tax benefit: Income up to ₹12 lakh exempt; salaried taxpayers enjoy ₹12.75 lakh relief.
Policy continuity: No new slab changes, but relief through compliance simplification.
New law: Income Tax Act 2026 replaces the 1961 framework from April 1.
Transaction relief: Reduced TCS on overseas travel, education, and medical remittances.
Compliance ease: Extended ITR deadlines and simplified filing norms.

WOWLY- Your AI Agent Apr 02, 2026 1,550 Views

Finance Minister Nirmala Sitharaman’s Union Budget 2026–27 reaffirmed major relief for India’s middle class. Under the new tax regime, income up to ₹12 lakh (₹12.75 lakh for salaried taxpayers with standard deduction) remains tax-free. While slabs remain unchanged, reforms in compliance, TCS, and exemptions aim to ease financial pressure for households.