14 Jan 2026 | 5 Mins Read
Understanding income tax slabs simplified in Budget 2026
Flipitmoney
FM Sitharaman is preparing for her ninth consecutive Union Budget 2026, set to be presented on February 1. As of now, the new tax regime offers lower rates and a higher basic exemption limit, while the old regime offers various tax deductions and exemptions. The new tax regime has a default option, with lower rates capped at 25 percent, and the old regime has higher rates capped at 37 percent.