Finance minister Nirmala Sitharaman is set to announce her maiden budget on July 5, expectations among Indian citizens are already at peak. Most of the demands that have been proposed pertain to lower taxation, especially those belonging to the middle-income group in the run-up to July 5. According to India Today, they have demanded the government to either introduce tax breaks to reduce strain on their household expenses or increase the overall tax exemption threshold. Here are a few likely income tax changes by Nirmala Sitharaman that could be announced:

Income tax exemption limit

Since a full tax rebate under Section 87A in the interim budget up to Rs 5 lakh was introduced, it is unlikely that there will any other alteration in the exemption. People are hopeful that the government would make amends to increase the Income-tax exemption limit but it would lead to a reduction in the current tax base as more people will be exempted from paying income tax.