Ahead of Budget 2026, the middle class anticipates a hike in the standard deduction to INR 1 lakh. Last year, FM Sitharaman made history by announcing zero tax for income up to INR 12 lakh under the New Regime. As the new Income Tax Act nears, taxpayers hope for further slab revisions and NPS benefits. Catch live news updates on the new Income Tax slabs and rates 2026 here.