Budget 2026: Mixed Bag for Senior Citizens; Tax Stability, Healthcare Relief, No New Exemptions
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Moneycontrol•01-02-2026, 17:00
Budget 2026: Mixed Bag for Senior Citizens; Tax Stability, Healthcare Relief, No New Exemptions
- •Union Budget 2026 presented by Finance Minister Nirmala Sitharaman offers no new tax burden but also no increased exemption limits for senior citizens.
- •Basic exemption limits under the Old Tax Regime remain unchanged: ₹3 lakh for 60-79 years and ₹5 lakh for 80+ years.
- •Demands for higher deduction limits, inflation-linked medical relief (Section 80DDB), domestic elder care, and higher social security pensions were not met.
- •Healthcare initiatives include NIMHANS 2.0 and upgrades to mental health institutes in Ranchi and Tezpur, focusing on dementia and depression.
- •The Income Tax Act 1961 will be replaced by the new Act 2025 from April 2026, simplifying digital filing and reducing litigation.
Why It Matters: Budget 2026 offers tax stability and healthcare improvements for seniors but no direct financial relief or new tax exemptions.
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