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Jan 20, 2026
India's budget may raise tax-free income to Rs 17 lakh
Finance Minister Nirmala Sitharaman is set to present the Union Budget 2026-27 on February 1, with taxpayers and industry groups anticipating further relief under the new income tax regime. Following last year's decision to exempt income up to Rs 12 lakh from taxation, experts believe the upcoming budget could push the effective tax-free threshold to approximately Rs 17 lakh through a combination of enhanced deductions.