Budget 2026 Tax Highlights Simplified Filing No Slab Changes FAQs on Old Regime and ₹15 LPA Tax

The Budget 2026 has arrived with much anticipation, especially from taxpayers eager to understand how it affects their finances. This year, the government has kept the income tax slab rates unchanged, which means no surprises in the basic tax brackets. Instead, the spotlight is on making tax filing simpler and more accessible under the new tax act. This blog post offers a quick 5-minute summary of the key tax highlights from Budget 2026, focusing on the simplified filing process and answering common questions about the old tax regime and tax liability for a ₹15 lakh per annum (LPA) salary.

No Changes to Income Tax Slab Rates

One of the most important announcements in Budget 2026 is that the government has retained the existing income tax slab rates for individual taxpayers. This means:

• The basic exemption limits remain the same.

• The tax rates for different income brackets have not been altered.

• Taxpayers can continue to plan their finances without adjusting for new slab rates.

  
  

This decision provides stability and predictability for salaried individuals and professionals alike.

Focus on Simplified Tax Filing Under the New Act

The major thrust of Budget 2026 is on simplifying the tax filing process. The government aims to reduce the complexity and time involved in filing returns by introducing:

• A single-page simplified tax return form for most individual taxpayers.

• Pre-filled data based on employer submissions and bank interest details.

• Automated calculations of tax liability and refunds.

• Integration with digital payment systems for quick tax payments.

• Enhanced support for taxpayers through chatbots and helpline services.

  
  

This approach is designed to encourage more taxpayers to file returns on time and reduce errors or omissions.

Key Features of Simplified Filing

• Pre-filled Income Details: Salaries, interest income, and capital gains will be pre-populated.

• Minimal Documentation: Taxpayers will not need to upload multiple proofs unless specifically asked.

• Faster Processing: Returns will be processed within days, speeding up refunds.

• User-Friendly Interface: The new portal will guide users step-by-step.

• Mobile App Availability: Filing can be done on smartphones with ease.

  
  

These features aim to make tax compliance less daunting for first-time filers and seasoned taxpayers alike.

What Remains Unchanged

While the filing process is simplified, some aspects remain the same:

• Tax deductions under sections like 80C, 80D, etc., continue as before.

• The choice between the old and new tax regimes is still available.

• Tax audit and other compliances for businesses and professionals remain unchanged.

  
  

FAQs on Budget 2026 Tax Highlights

Is the old tax regime still available?

Yes, taxpayers can still choose between the old tax regime with deductions and exemptions or the new simplified regime with lower tax rates but fewer deductions. The government has not removed the old regime, allowing individuals to pick the option that best suits their financial situation.

What is the tax for a ₹15 LPA salary?

For an individual earning ₹15 lakh per annum, the tax liability depends on the chosen regime:

• Under the old regime (assuming full deductions of ₹1.5 lakh under 80C and standard deductions):

- Taxable income reduces to around ₹13.5 lakh.

- Income tax roughly amounts to ₹1,95,000 plus applicable cess.

• Under the new regime (without most deductions):

- Tax is calculated on the full ₹15 lakh.

- Tax liability is approximately ₹1,87,500 plus cess.

The exact amount varies based on other deductions, exemptions, and applicable surcharges.

Practical Tips for Taxpayers in 2026

• Review your income and deductions early to decide which tax regime benefits you.

• Use the new simplified filing portal to save time and avoid errors.

• Keep digital copies of essential documents handy for quick reference.

• Check pre-filled data carefully before submitting your return.

• Plan investments and expenses considering the unchanged slab rates.

  
  

What This Means for You

Budget 2026’s focus on simplified filing aims to make tax compliance easier and less time-consuming. The unchanged slab rates offer stability, while the choice between old and new regimes gives flexibility. Taxpayers with a ₹15 LPA salary can plan their taxes effectively by comparing regimes and using the new tools provided.

Take advantage of the simplified process to file your returns confidently and on time this year.