Ahead of Budget 2026-27, Indian taxpayers are seeking relief, simplicity, and stability amid rising living costs and changing financial habits. Key demands include raising the long-stagnant Section 80C limit, revising income tax slabs to offset inflation, and increasing Section 80D deductions as health insurance premiums surge. There is strong pressure to reform crypto taxation by easing the 1% TDS and allowing loss set-offs. Taxpayers also want better retirement incentives via NPS, simpler capital gains rules, support for housing and gold investments, GST simplification, and clearer tax norms for NRIs to improve compliance and financial security.
Budget 2026-27 wishlist is clear: Relief, simplicity & stability
Middle-class taxpayers are hoping Budget 2026 reflects today’s realities — rising living costs, longer working lives, and growing investment in digital assets. Many are looking for tax relief to ease financial pressure and better savings options for retirement. There’s also demand for clearer rules on cryptocurrencies and other digital assets. Overall, expectations are high for a budget that supports financial security and modern lifestyles.
Rs. 1.5 lakh isn’t enough anymore: Time to fix Section 80C
Section 80C limits have remained unchanged for nearly a decade, even as living costs have increased. Taxpayers say the cap no longer reflects today’s expenses on insurance, education, and long-term savings. Many believe raising the limit would help them save more effectively. They hope Budget 2026 will finally update this key tax benefit to match current financial realities.
Income tax slabs vs inflation: Middle class feels the squeeze
With salaries not keeping pace with inflation, many taxpayers are calling for a revision in income tax slabs. They want the threshold for the 30% tax bracket to be raised to match today’s income levels. Urban professionals, in particular, feel the current structure offers little relief. They hope Budget 2026 will bring fairer taxation and put more money in their hands.
Health insurance is costly: Section 80D needs an upgrade
Medical costs are rising much faster than salaries, putting pressure on household budgets. As health insurance premiums climb across age groups, taxpayers are seeking higher deductions under Section 80D. Many believe the current limits don’t match today’s healthcare expenses. Budget 2026 is expected to address this gap and offer better relief for medical spending.
Crypto taxes under pressure: What investors want changed
Crypto investors are hoping for fairer tax rules in Budget 2026 as the industry matures. They want the 1% TDS on transactions to be reduced and losses to be allowed for set-off, like other asset classes. Many say the current system discourages genuine investors. The upcoming budget may finally bring much-needed clarity to India’s digital asset tax regime.
Retirement reality check: NPS, FIRE & long lives
With people living longer and expenses steadily rising, taxpayers are seeking stronger incentives for retirement savings through the NPS. Many feel India needs its own retirement planning framework rather than copying global FIRE (Financial Independence, Retire Early) ideas. They want policies that reflect local realities such as family support, healthcare costs, and job patterns. Budget 2026 could be a chance to build a more India-focused retirement model.
Capital gains, gold & housing: The wealth equation
Investors are looking for a simpler and fairer capital gains tax structure in Budget 2026. They also want steps to make gold more affordable and better access to housing finance. Many feel these measures will help them build long-term wealth with greater stability. The focus is on reducing tax shocks and encouraging genuine savings and investment.
GST simplicity & NRI tax relief: The final wishlist
Taxpayers and businesses are hoping Budget 2026 will simplify GST and reduce tax disputes. Clearer rules for NRIs are also high on the wish list as cross-border incomes become more common. Many believe these steps will make compliance easier and boost confidence among taxpayers. The aim is to support ease of living and doing business in India’s growing digital economy.
Source from: https://economictimes.indiatimes.com/wealth/save/budget-2026-from-tax-relief-to-crypto-clarity-what-indian-taxpayers-really-really-want/budget-2026-wishlist-is-clear-relief-simplicity-amp-stability/slideshow/126408043.cms
