Do You Pay Taxes? Here’s What The Budget May Have In Store, Ft Taresh Singhania

With the Union Budget 2026-27 just around the corner, taxpayers across India are wondering what changes might be announced and how their financial decisions could be affected. In an exclusive with HerZindagi, finance content creator Taresh Singhania shared his insights on what individuals who pay taxes should watch out for, and how the Budget might shape India’s economic landscape. This is our series ‘Budget And Her’, where we look at the budget from a woman’s perspective. This is our series ‘Budget And Her’, where we look at the budget from a woman’s perspective. This campaign is in collaboration with DigiWhistle (@digiwhistle).

The map for all of India’s financial decisions is presented in the Budget on February 1, when Finance Minister Nirmala Sitharaman will present her ninth consecutive Budget in Parliament. Individuals, investors, and professionals are keenly awaiting what relief, reforms, or incentives may be announced. 

Union Budget 2026: What To Expect

1. Potential Tax Relief For Individuals

One of the biggest questions on taxpayers’ minds is whether the government will offer any relief in income tax rates. According to Taresh Singhania, there is a strong expectation that tax brackets could be adjusted to account for inflation. “Firstly, it’s highly expected that there will be some relief in tax rates because of inflation, the 30% tax slab, which is currently applicable to incomes above Rs 15 lakh, might be shifted to Rs 30 lakh.” he explains.

This move would mean that fewer people are pushed into the highest tax bracket purely due to rising prices. While official Budget proposals are still under wraps, many experts have suggested that very large changes to tax slabs are unlikely, but fine‑tuning and targeted relief is possible.

2. New Vs Old Tax Regimes

There has been ongoing confusion among taxpayers about choosing between the new and old tax regimes. According to the Income Tax Departmentofficial portal, “The tax slabs and rates are different in old and new tax regimes. Various deductions and exemptions are allowed in the Old tax regime. The new regime offers lower rates of taxes but permits limited deductions and exemptions.”

Taresh says that, “The Budget could simplify the policies of the new tax regime further, potentially making it easier for taxpayers to understand and choose what works best for them. Many people are confused about the new and old tax regimes, so the policies of the new tax regime will be simplified further.”

ALSO READ- Budget 2026: Meet Team Behind India's Union Budget 2026

3. Government Spending: Where It Could Be Focused

Tax‑related changes aren’t the only part of the Budget that matters. Government spending priorities can have a wide impact on jobs, infrastructure and investment trends.

Singhania predicts that the government may increase spending in key sectors like defence, railways and energy, areas that traditionally receive large allocations in the Budget. Increased focus in these sectors could boost employment and create investment opportunities for businesses and individuals. He shared, “Then, there could be a heavy focus on government spending in the defence, railway and energy sectors, which could significantly increase employment. You can also keep an eye on the stocks of companies in these sectors.”

ALSO READ- Budget 2026: Date, Time And Where To Watch The Union Budget Speech Live

4. Crypto And Digital Assets

One area that remains somewhat unclear both for investors and regulators is the taxation of cryptocurrencies and emerging digital assets. India’s tax regime for crypto is still seen as a grey area by many participants in the sector.

Taresh says, “Budget will bring simplification to crypto taxation, which could benefit investors who have taken part in digital asset markets over the past few years. And hopefully, even though participation in crypto has increased so much, taxation is still in a grey area, so crypto taxation should be simplified further.”

Whether you’re planning your tax filings, investment decisions or savings goals, keeping an eye on the Budget announcements can help you prepare and make informed financial choices.

For more such stories, stay tuned to HerZindagi.