Updated On: 01 February, 2026 03:38 PM IST | Mumbai | mid-day online correspondent
The Finance Minister did not propose any revisions to Income Tax slabs or rates under either the old or new tax regime for FY 2026-27. The most important announcement for taxpayers is the rollout of the New Income Tax Act, 2025, which will replace the Income Tax Act, 1961, from April 1, 2026

Finance Minister Nirmala Sitharaman presents the Union Budget 2026 in the Lok Sabha on Sunday. PIC/PTI
Finance Minister Nirmala Sitharaman presented the Union Budget 2026 in Parliament on Sunday. For salaried employees, the key takeaway from the speech is continuity and simplification rather than new tax cuts or major changes to slabs and rates.
The Finance Minister did not propose any revisions to Income Tax slabs or rates under either the old or new tax regime for FY 2026-27.