The Income-tax Act, 2025 has applied to income from 1 April 2026 and has replaced the 1961 Act, so the Budget expected on 1 February 2027 will be the first one presented under the new law. Parliament had passed the bill on 12 August 2025 and the President had given assent a few days later. Income earned up to 31 March 2026 stays under the old Act, while income from the 2026-27 tax year onward falls under the new one. Many salaried individuals, senior citizens, small business owners and investors are now discussing their Budget 2027 expectations on forums and social media.
This article is built on conversations happening in forums, social media and publicly released reports. Nothing here is verified, and Scripwise does not take any responsibility for decisions made from it.
Hence, every expectation mentioned is only a hope and not a formally announced fact.
This article is based on what people are discussing on forums and social media and on public reports. Nothing here is confirmed and Scripwise takes no responsibility for any decision made on it.
What salaried people and senior citizens want
Salaried folks are hoping for a higher standard deduction and a little easing in the new tax regime slabs, but none of that has been confirmed yet. Senior citizens also hope for a larger exemption on the interest income from their deposits, and that too remains just an expectation.
| Group | What they ask for | Today's rule |
|---|---|---|
| Salaried people | Hoped for: lower tax in the new regime | Slabs unchanged in Budget 2026 |
| Senior citizens | Hoped for: more relief on interest income | Section 87A rebate up to Rs 12 lakh |
| Small business owners | Expected ask: simpler compliance | Not stated |
| Investors | Hoped for: lower capital gains tax and STT | LTCG 12.5% above Rs 1.25 lakh, STCG 20% |
The securities transaction tax on futures is 0.05% and on options it is 0.15%, as applicable from 1 April 2026.
The rebate under section 87A is a reduction in tax for individuals whose income falls below a set limit. Many families are checking whether this limit could be raised, and the hope is voiced mostly by those with incomes close to it.
Business owners, investors and the likelier wishes
Small business owners are hoping for simpler compliance and less filings under the new law, and many of them are waiting to see how the Income-tax Act, 2025 will work in practice. Investors are hoping for a lower rate of long-term capital gains (LTCG) tax, which is the tax on profit from shares or funds held for more than a year.
Traders are also hoping for relief in securities transaction tax (STT), the small tax charged on every purchase or sale of shares and derivatives on the exchanges. Some discussions also mention foreign institutional investors (A foreign portfolio investor (FPI) is an overseas entity registered with SEBI that buys Indian shares and bonds for returns without taking control. Read the full meaning of FII and FPI) and foreign portfolio investors (FPI), and whether tax changes could affect their buying and selling in the Indian market.
Every Budget receives many more requests than it can accept and a demand being popular does not mean it will be met.
These are expectations, not announcements.
