Budget 2026, No Change in Income Tax Slabs, ITR Filing Deadline Extended
Finance Minister Nirmala Sitharaman presented the Union Budget 2026 on February 1, marking her ninth consecutive Budget. While expectations were high for income tax relief, especially among salaried and middle-class taxpayers, no changes were announced in income tax slabs under either the old or the new tax regime.
The only major income tax related proposal was an extension of the revised ITR filing deadline to March 31, with a nominal late fee.
Income Tax Slabs, Old Regime (Unchanged)
- Up to ₹2.5 lakh, Nil - ₹2.5 lakh to ₹5 lakh, 5% - ₹5 lakh to ₹10 lakh, 20% - Above ₹10 lakh, 30%
Income Tax Slabs, New Regime (Unchanged)
- Up to ₹4 lakh, Nil - ₹4 lakh to ₹8 lakh, 5% - ₹8 lakh to ₹12 lakh, 10% - ₹12 lakh to ₹16 lakh, 15% - ₹16 lakh to ₹20 lakh, 20% - ₹20 lakh to ₹24 lakh, 25% - Above ₹24 lakh, 30%
Bottom Line
Budget 2026 brings procedural relief through an extended ITR deadline but offers no fresh tax rate relief for individual taxpayers. Income tax slabs and rates remain exactly the same under both regimes.
