Budget 2026: Senior Citizens Eye Higher Tax Exemptions, Simplified Compliance
Budget
C
CNBC Awaaz•28-01-2026, 19:02
Budget 2026: Senior Citizens Eye Higher Tax Exemptions, Simplified Compliance
- •Senior citizens anticipate increased income tax exemption limits and simplified tax compliance in Budget 2026-27.
- •Experts suggest raising the Section 80TTB deduction limit for savings and fixed deposits, currently at 50,000 rupees.
- •Demands include higher tax exemption under Section 80D and 80DDB for health insurance and treatment of chronic illnesses.
- •Expectations also cover simplifying TDS/TCS processes, capital gains rebates, and boosting NPS participation with tax benefits.
- •A comprehensive scheme for senior citizen home care, assisted living, and transitional care facilities is also sought, with related expenses potentially recognized for higher tax deductions.
Why It Matters: Senior citizens are hopeful for significant tax relief and simplified financial provisions in the upcoming Budget 2026.
✦
More like this
Loading more articles...
