Budget 2026: Senior Citizens to Get Major Relief, Tax Benefits & Health Scheme Focus
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Moneycontrol•29-01-2026, 13:57
Budget 2026: Senior Citizens to Get Major Relief, Tax Benefits & Health Scheme Focus
- •Union Budget 2026 is expected to prioritize senior citizens, with potential announcements for increased tax benefits and broader health coverage.
- •Finance Minister Nirmala Sitharaman may announce a higher basic exemption limit, simpler tax structure, and increased deductions for health insurance.
- •Analysts suggest increasing the Section 80TTB deduction limit for interest income from Rs 50,000 and enhancing Section 80D limits for critical illness health policies.
- •There's a call to extend Section 87A rebate benefits to capital gains for senior citizens and reduce TCS and TDS rates.
- •Experts advocate for increased tax benefits on NPS, especially under the new income tax regime, to encourage long-term retirement savings.
Why It Matters: Budget 2026 is set to offer significant tax and health benefits, simplifying financial planning for senior citizens.
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