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Budget 2026: What may change in Old vs New regime
Budget 2026: Big tax relief for salaried class? What may change in Old vs New regime
In Budget 2025, the government increased the standard deduction under the new tax regime from Rs 50,000 to Rs 75,000, effectively pushing the tax-free income limit for salaried individuals to Rs 12.75 lakh. Experts believe that if there is any further hike, it is likely to benefit only those opting for the new regime, widening the difference between the two systems.
New Delhi: As the Union Budget 2026 draws closer, the discussion around India's old and new income tax regimes is back in focus. Salaried and middle-class taxpayers are once again comparing the benefits of higher deductions under the old system with the simpler, lower tax slabs offered in the new regime. With many still weighing their options, expectations are rising that the government may introduce changes to make tax planning fairer, clearer and more practical for different income groups.
According to a report by NDTV, the central government is not looking to abruptly scrap the old tax regime. Instead, the strategy appears to be encouraging taxpayers to gradually move towards the new regime by making it more appealing. Rather than forcing a switch, the government may introduce incentives to smoothen the transition. These could include a higher standard deduction under the new regime, the option of joint tax filing for married couples, and the return of limited deductions for essential expenses such as medical costs, disability care, or other specified categories.
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In Budget 2025, the government increased the standard deduction under the new tax regime from Rs 50,000 to Rs 75,000, effectively pushing the tax-free income limit for salaried individuals to Rs 12.75 lakh. Experts believe that if there is any further hike, it is likely to benefit only those opting for the new regime, widening the difference between the two systems. At a time when inflation and everyday expenses continue to rise, a higher standard deduction could significantly boost the disposable income of salaried households and offer much-needed financial relief.
Government data suggests that the push towards the new tax regime is yielding results. In FY 2023-24, nearly 72 per cent of taxpayers around 5.27 crore individuals chose the new regime. This share is expected to rise further in the 2025-26 assessment year, as rationalised tax slabs, higher rebates and simplified rules continue to benefit the middle class.
However, about 28 per cent of taxpayers close to 2 crore people are still sticking with the old regime. The primary reason is the range of deductions it offers, including HRA, health insurance under Section 80D, home loan interest, education loan interest and other tax-saving benefits that many individuals rely on for lowering their taxable income.
For taxpayers opting for the new tax regime, income is taxed at different rates based on slabs. Here's a clear look at the current structure for FY 2025–26:
Up to Rs 4,00,000 – Nil
Rs 4,00,001 to Rs 8,00,000 – 5%
Rs 8,00,001 to Rs 12,00,000 – 10%
Rs 12,00,001 to Rs 16,00,000 – 15%
Rs 16,00,001 to Rs 20,00,000 – 20%
Rs 20,00,001 to Rs 24,00,000 – 25%
Above Rs 24,00,000 – 30%
Under this system, tax increases gradually with income, offering lower rates in the initial slabs compared to the old regime, but with fewer deductions available.
With inflation pushing up household expenses, even a small increase in the standard deduction or added incentives can make a noticeable difference to salaried families. Higher deductions mean lower taxable income, which directly translates into more money in hand. Rather than making sweeping changes, Budget 2026 is expected to further strengthen the new tax regime, continuing the government's approach of encouraging a gradual and smooth shift instead of a complete overhaul.
Source: ZeeNews
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