Bhubaneswar, Feb. 1 -- As the Union Budget approaches, taxpayers, especially salaried individuals and retirees, are looking for further relief and simplification in the income tax system. Several expectations have emerged, particularly around tax slabs, deductions, and incentives under the new tax regime.

In the previous budget, annual income up to Rs 12 lakh was made tax-free, providing significant relief to the middle class. This year, there is growing speculation over whether the government may raise the tax-free income limit to Rs 15 lakh, further easing the burden on salaried taxpayers.

There is also anticipation that the government could simplify income tax slabs further, making the tax structure more transparent and taxpayer-frie...