The new regime slabs were left unchanged in Budget 2026, and the section 87A rebate still covers income up to Rs 12 lakh, yet wishlists for the Union Budget expected on 1 February 2027 are already circulating. Many salaried families are discussing what the income tax Budget 2027 may bring.
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.
The rules that are confirmed stay as they are. The Income-tax Act 2025 has been in force from 1 April 2026, and taxpayers are filing and planning under its sections. Long-term capital gains (LTCG is the profit from selling an asset such as shares, mutual fund units or property after holding it beyond the qualifying period. Read the full meaning of LTCG) on listed equity are taxed at 12.5% on the amount above Rs 1.25 lakh in a year, while short-term capital gains (STCG) are taxed at 20%. The securities transaction tax (STT) is 0.05% on futures and 0.15% on options.
Slabs and rebate: what stands and what people ask for
The new regime slabs have not been altered since Budget 2026, and the rebate under section 87A continues to be applicable as it was before. Alongside this, taxpayers are talking about the changes they wish to see in the next Budget, while the table below only lists the rules that are confirmed and does not include these hopes.
| Item | Rule today | What people hope for | Where seen |
|---|---|---|---|
| Income slabs | Unchanged in Budget 2026 | Wider slabs, unconfirmed | Forum posts |
| Section 87A rebate | Covers income up to Rs 12 lakh | A higher income limit, unconfirmed | Newspaper pre-Budget pieces |
| Tax rates on middle incomes | Same as in Budget 2026 | Lower rates, unconfirmed | Industry body demands |
| Rebate for salaried families | Same limit for all taxpayers | Extra relief, unconfirmed | Social media posts |
Many people are interpreting these expectations as probable results, though the Finance Ministry has not made any formal statement to back them up.
Standard deduction and other asks
In salaried households the most common wish that pops up on forums and social media is a higher standard deduction under the new tax regime. Posts on Reddit and X from salaried folks ask for more relief on their salary income and the same request is also echoed in YouTube comments. All of this is still unverified.
Some taxpayers are also asking for help with rent and the cost of living in big cities. These requests are spreading widely, even though they come from individual taxpayers and not from an official channel.
These are expectations, not announcements.
