It comes after some batches made by Nestle and Danone were recalled after being contaminated with a toxin.
Income Tax: New Deadlines After Budget 2026, Tax Slabs, Rates, Deductions; All You Need To Know
Last Updated:
The Union Budget 2026-27 has not introduced any changes in income tax rates and slabs. However, it has introduced new deadlines for income tax return (ITR) filing.
Beginning April 1, the Income Tax Act, 2025, will come into force, replacing the six-decade-old Income Tax Act, 1961.
Income Tax Rules After Budget 2026: The Union Budget 2026-27, which was presented by Finance Minister Nirmala Sitharaman on February 1, has not introduced any changes in income tax rates and slabs. However, it has introduced new deadlines for income tax return (ITR) filing. It is necessary to know these deadlines for better tax planning for the financial year 2026-27 staring April 1, when the latest budget provisions become effective.
Budget 2026 Announcements Regarding Income Tax
- According to the Budget Speech 2026-27, any interest awarded by Motor Accident Claims Tribunals to individuals will be exempt from income tax, and no TDS will be deducted on such amounts.
- The TCS rate on overseas tour packages will be cut to 2 per cent, and the same reduced 2 per cent rate will apply to remittances for education and medical purposes under the Liberalised Remittance Scheme.
- A new scheme will allow small taxpayers to get lower or nil TDS certificates through an automated, rule-based process, without approaching the assessing officer.
- Taxpayers will get time till March 31 to revise their returns, instead of the current December 31 deadline, by paying a nominal fee.
- The tax return filing timeline will be staggered, with ITR-1 and ITR-2 filers continuing to file till July 31, while non-audit business cases and trusts will get time till August 31.
- For property bought from non-residents, TDS will be deducted and paid using the resident buyer’s PAN, removing the need to obtain a TAN.
Beginning April 1, the Income Tax Act, 2025, will come into force, replacing the six-decade-old Income Tax Act, 1961.
Tax Slabs & Rates For FY 2026-27
Tax liability for FY 2025-26 will remain same as the existing slab structures, with the new tax regime continuing as the default option.
New Tax Regime: Default for FY 2025-26
Under the new tax regime, individuals earning up to Rs 12 lakh a year are effectively exempt from paying income tax, provided the income qualifies as “normal income”. This excludes special-rate incomes such as short-term capital gains (STCG) and long-term capital gains (LTCG).
The new regime applies automatically. Salaried taxpayers can still opt for the old regime at the time of filing their return. However, a belated ITR, filed after the due date, can only be submitted under the new regime.
New tax regime slabs
- Rs 0 to Rs 4,00,000: Nil
- Rs 4,00,001 to Rs 8,00,000: 5%
- Rs 8,00,001 to Rs 12,00,000: 10%
- Rs 12,00,001 to Rs 16,00,000: 15%
- Rs 16,00,001 to Rs 20,00,000: 20%
- Rs 20,00,001 to Rs 24,00,000: 25%
- Above Rs 24,00,000: 30%
Key benefits under the new regime
- Standard deduction of Rs 75,000 for salaried employees and pensioners
- Section 87A rebate for resident taxpayers with net taxable income up to Rs 12 lakh
- NPS deduction of up to 14% of basic salary for salaried employees under Section 80CCD(2).
Old Tax Regime: Deductions-Driven Structure
The old tax regime continues to attract taxpayers who are able to claim multiple exemptions and deductions. These include Section 80C benefits of up to Rs 1.5 lakh through investments such as PPF, ELSS and LIC, as well as house rent allowance (HRA), leave travel allowance (LTA), home loan interest under Section 24, health insurance premiums under Section 80D, education loan interest under Section 80E and a standard deduction of Rs 50,000 for salaried individuals.
Slabs for individuals below 60 years
- Rs 0 to Rs 2,50,000: Nil
- Rs 2,50,001 to Rs 5,00,000: 5%
- Rs 5,00,001 to Rs 10,00,000: 20%
- Above Rs 10,00,000: 30%
Slabs for senior citizens (60 to below 80 years)
- Rs 0 to Rs 3,00,000: Nil
- Rs 3,00,001 to Rs 5,00,000: 5%
- Rs 5,00,001 to Rs 10,00,000: 20%
- Above Rs 10,00,000: 30%
Slabs for super senior citizens (80 years and above)
- Rs 0 to Rs 5,00,000: Nil
- Rs 5,00,001 to Rs 10,00,000: 20%
- Above Rs 10,00,000: 30%
Which Regime Makes More Sense?
Tax experts suggest that the choice depends largely on income levels and the ability to claim deductions.
“You may benefit from the new regime if you earn up to Rs 12 lakh in a year. Most people fall under this category,” said Aman Sharma, a Delhi-based chartered accountant.
He added that the old regime may still work better if you claim substantial deductions under Sections 80C and 80D, HRA or home loan interest, have invested heavily in tax-saving instruments such as PPF or ELSS, receive salary components like HRA or LTA, or are a senior citizen eligible for multiple deductions.
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First Published:
February 05, 2026, 16:25 IST
News business tax Income Tax: New Deadlines After Budget 2026, Tax Slabs, Rates, Deductions; All You Need To Know
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Pakistan team to seek govt’s advice in potential India T20 finals clash: Agha
- Bangladesh’s absence from World Cup unfortunate, says Agha.
- Adds Pakistan aiming to play positive cricket in mega event.
- Team showing strong form since last Asia Cup: T20I skipper.
COLOMBO: Captain Salman Ali Agha said the team Pakistan will seek advice from their government if they reach the knockout phase of the upcoming ICC Men’s T20 World Cup 2026 and meet arch-rival India.
The tournament has been marred by an acrimonious political buildup after Bangladesh were kicked out, and Pakistan refused to face co-hosts India in their Group A match.
However, a semi-final or final showdown between the arch-rivals is still a possibility.
“The India game is not in our control. It was the government’s decision, and if we have to play them in the semi-final or the final, we will go back to them and act on their advice,” Agha told reportersat the captains’ press conference in Colombo on Thursday.
Agha said the team aims to play positive cricket throughout the tournament and is not focusing on factors beyond its control.
His remarks followed the government’s decision to boycott the mega event’s match against India scheduled for February 15.
Pakistan had decided to boycott the February 15 match against arch-rivals India to show solidarity with Bangladesh, which the International Cricket Council (ICC) kicked out of the tournament after rejecting Bangladesh Cricket Board’s (BCB) request to move their matches to a venue outside India.
The Pakistani captain also expressed disappointment over Bangladesh’s absence from the World Cup and said, “It is unfortunate that the Bangladesh team is not playing in the World Cup.”
“It’s sad Bangladesh are not here. They have a very good side. Hopefully they will support us,” Agha said.
He expressed excitement about leading Pakistan in his first World Cup as captain, hoping the team would deliver strong performances under his leadership.
He added that the team has been playing good cricket over the past six months and has shown positive momentum since the Asia Cup.
“We’ve been playing really good cricket. We haven´t lost a series since the Asia Cup last year. Everything is coming along nicely and we´re confident of doing well,” Agha said.
Agha said that no team can be taken lightly in a World Cup and noted that Pakistan is preparing seriously for its upcoming match against the Netherlands.
He also praised Sri Lanka’s hospitality, calling it his “second home” and appreciating the warmth of its people.
Pakistan will formally kick off their campaign against the Netherlands on February 7 at the Sinhalese Sports Club Ground in Colombo, which will also host their group-stage matches against the United States on February 10 and Namibia on February 18.
The Green Shirts were scheduled to face arch-rivals India at the R Premadasa Stadium on February 15.
Depression vs Burnout: How To Tell The Difference
Over the last few years, the word burnout has quietly replaced depression in everyday language. People say they’re “burnt out” far more easily than they say they’re depressed. And while the two can look similar on the surface, they are not the same and confusing them can delay real healing.
Burnout is primarily situational. It develops as a response to prolonged stress, usually linked to work, caregiving, or chronic responsibility without enough rest, recognition, or control. People experiencing burnout often feel emotionally exhausted, cynical, or detached.
There’s a sense of “I can’t do this anymore,” but importantly, the exhaustion is usually tied to specific roles. A burnt-out person might still feel okay on weekends, during a holiday, or when imagining a different job or lifestyle. Arouba Kabir, Emotional & Mental Health professional, Founder Enso wellness shares the difference between depression vs burnout.
Depression, on the other hand, is more pervasive. It doesn’t switch off when the environment changes. It seeps into multiple areas of life…work, relationships, self-worth, even basic functioning. Someone who is depressed may struggle to feel pleasure, motivation, or hope even when external stressors are reduced. Simple tasks can feel overwhelming, not because the workload is too much, but because the internal energy to engage with life feels depleted.
Another key difference lies in self-perception. Burnout often comes with frustration and resentment toward systems, expectations, or others: This job is draining me. These demands are unfair. Depression tends to turn inward: I’m the problem. I’m failing. I’m not enough. Guilt, shame, and a harsh inner critic are common markers.
Sleep and rest also behave differently. In burnout, rest helps, at least temporarily. A break, a boundary, or a change can bring noticeable relief. In depression, rest doesn’t always restore. Someone may sleep excessively or barely at all and still wake up feeling empty or heavy.
That said, burnout and depression are not opposites; they can coexist. Long-term burnout can tip into depression if exhaustion, helplessness, and emotional numbness are left unaddressed. This is why simply taking a vacation or pushing through with “self-care” doesn’t always work.
The distinction matters because the solutions differ. Burnout calls for structural change boundaries, workload shifts, support, and sometimes difficult decisions about roles or environments. Depression requires deeper psychological and often medical support, focusing on mood, thought patterns, and emotional healing.
If you’re unsure which one you’re experiencing, that uncertainty itself is a sign to pause and seek help. Naming what’s happening isn’t about labels, it’s about choosing the right path toward recovery whether that is by yourself or seeking professional intervention.
(This article is based on information available in the public domain and on input provided by experts consulted.)
Rebecca Ferguson shares new details about co-star who left her in tears
Rebecca Ferguson is addressing her past confession about an unspecified co-star, who “screamed” at her while on set.
Making the initial claim two years ago, which left parts of the internet scrambling for clues about the mystery actor, the Swedish actress has provided further details about what the moment felt like.
“It wasn’t about the person. It was about me. It was so scary. I didn’t know then how to go, ‘Hey, can I talk to you privately?’” she told Harper’s Bazaar UK. “Now, I would want to believe that I could have taken this person aside.”
She also reflected on the prevalent debate about “woke” culture, saying that she thinks it’s actually “great”.
“A lot of people say that we’ve become too woke, but I think, no, it’s great. The pendulum needs to swing to the other side so that we can find a balance in between.”
Her comments were a reflection about the revelation she made during a February 2024 episode of Reign with Josh Smith podcast.
“I remember there was a moment and this human being was being so insecure and angry because this person couldn’t get the scenes out,” the Dune star had shared.
“And I think I was so vulnerable and uncomfortable that I got screamed at,” she continued. “But because this person was number one on a call sheet, there was no safety net for me. So no one had my back. And I would cry walking off set.”
Though she never revealed which co-star she was talking about, she did confirm that it was neither Tom Cruise nor Hugh Jackman, two of her most famous screen partners.
She has worked with Cruise in the Mission: Impossible franchise while Jackman was her co-star in the 2017 musical The Greatest Showman.
Rebecca Ferguson’s next high profile projects include Dune: Part Three and Peaky Blinders: The Immortal Man, both set to release later this year.
Mount Fuji cherry blossom festival cancelled due to overtourism – The Times of India
A cherry blossom festival boasting a highly Instagrammable view of Japan’s Mount Fuji has been cancelled after residents complained of overtourism fuelled by the weak yen.The city of Fujiyoshida, in central Japan’s Yamanashi region, said Tuesday that the weeks-long event attracting around 200,000 people will be called off this year because “the quiet lives of local residents are threatened”.About 42.7 million tourists flocked to Japan in 2025, an all-time high, topping 2024’s record of nearly 37 million as the weak yen boosted the appeal of the “bucket list” destination.But complaints of overcrowding have grown in hotspots like Kyoto, where disrespectful tourists have been accused of harassing kimono-clad geisha performers in their frenzy for photos. In Fujiyoshida, the influx of foreign tourists has seen traffic chronically jammed and cigarette butts tossed, with trespassing and even defecation in private gardens reported by its citizens, the city said. “Behind (Mount Fuji’s) beautiful landscape is the reality that the quiet lives of citizens are threatened. We have a strong sense of crisis,” Shigeru Horiuchi, Fujiyoshida mayor, said in a statement.“To protect the dignity and living environment of our citizens, we have decided to bring the curtain down on the 10-year-old festival.” The city, however, admits that even if the festival itself is cancelled, its venue — a park overlooking Mount Fuji, cherry blossom trees and a five-story pagoda — may still see a spike in visitors as spring nears. Mount Fuji is a perennial tourist attraction. To manage the influx of visitors, nearby towns have in the past erected a view-blocking barrier to dissuade photo-hungry tourists, introduced an entry fee for hikers and capped their daily numbers.
Crime scene tape draped on Buckingham Palace after latest Andrew-Epstein allegations
Republic activists draped crime scene tape over Buckingham Palace’s gates during a protest on Wednesday, 4 February, after the latest release of documents from the U.S. investigation of Jeffrey Epstein revived questions about Andrew Mountbatten-Windsor‘s friendship with the convicted sex offender.
Campaigners held up a banner reading “Charles, what are you hiding?” during the demonstration.
Inclusion in the Epstein files is not a suggestion of wrongdoing, and Mountbatten-Windsor has repeatedly denied any wrongdoing in his relationship with Epstein.
Graham Smith, CEO of Republic, said: “The stakes are now too high to tolerate that secrecy any longer. We need full disclosure from the royals.”
N’Golo Kanté joins Fenerbahce from Al Ittihad
Fenerbahce have confirmed the signing of former Leicester and Chelsea midfielder N’Golo Kanté.
The France international looked to be staying put at Al Ittihad after talks stalled on Tuesday, Fenerbahce blaming the Saudi Pro League club for collapsing the deal.
According to the Turkish side, Al Ittihad failed to comply with FIFA regulations for registering transfers.
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However, Al Ittihad later posted a farewell message to Kanté on X, saying they had agreed to sell the remaining period of his contract.
Kanté, 34, returns to European football after joining the Saudi Pro League in 2023.
He won back-to-back Premier League titles with Leicester and Chelsea in 2016 and 2017, while he also won a Champions League with the London club.
The midfielder was a part of France‘s World Cup winning squad in 2018.
He is the second French midfielder to join Fenerbahce in this window after former Arsenal man Matteo Guendouzi also made the move to Istanbul.
Budget 2026: Who can claim standard deduction in FY 2026–27? Check eligibility
New Delhi: Budget 2026 has kept the standard deduction unchanged. This brings no fresh relief on this front for taxpayers. The same limits announced in the previous Budget will continue to apply for the financial year 2026–27. Standard deduction remains one of the few benefits available to salaried individuals and pensioners under the new tax regime, offering a fixed reduction in taxable income without the need to submit investment proofs. While many were expecting a revision, the government has chosen to maintain the existing structure for now.
Under the current income tax rules, salaried individuals can claim the standard deduction under whichever tax regime they opt for. In the new tax regime, a salaried person can claim a standard deduction of up to Rs 75,000 in a financial year. Meanwhile, under the old tax regime, the standard deduction available to salaried taxpayers remains at Rs 50,000.
Who Can Claim the Standard Deduction?
The standard deduction is available to individuals who earn income through salary or pension. This means salaried employees and pensioners can reduce their taxable income by claiming this benefit. However, it is not available to everyone. Freelancers, self-employed professionals, and business owners are not eligible to claim the standard deduction.
Similarly, individuals who earn income only from sources such as rent, capital gains, interest, or business profits cannot claim this deduction, as it is specifically meant for salary and pension income.
How Standard Deduction Lowers Your Tax Burden
The standard deduction reduces your taxable income by allowing a fixed amount to be deducted from your salary or pension. The best part? You don’t need to submit any bills, receipts, or investment proofs to claim it.
What It Means for Pensioners
Pension received from a former employer is treated as salary under income tax rules. This means it is considered taxable income and comes under the head ‘Salaries.’ As a result, senior citizens who receive a pension must follow the same tax rules that apply to salaried individuals including eligibility to claim the standard deduction, wherever applicable.
What If You’ve Worked for More Than One Employer?
If you have changed jobs or worked for multiple employers during a financial year, you can still claim the standard deduction but only once.
This is because the standard deduction is linked to the taxpayer, not the number of employers. So, even if you received salary from two or more companies in the same year, the benefit will be available just a single time while calculating your total taxable income.
Tom Cruise, Meg Ryan bond over shared heartbreak
Tom Cruise and Meg Ryan have developed a close bond built on years of friendship as those close to them try to persuade them to date each other.
According to a report, the two stars shared experiences of their highly publicised heartbreak as they bond together.
An insider said that the Mission: Impossible star and Ryan have known each other for decades and have found comfort in their mutual understanding of fame, privacy and the challenges of maintaining relationships while pursuing demanding careers.
Tom is said to value Meg’s loyalty and support over the years, while Meg has long respected his dedication to his craft.
“The respect and admiration is there, and both of them have had some serious bad luck, dating-wise, over the past few years,” an insider said while sharing insights into their romance.
They added, “They’ve known each other forever and they genuinely trust each other so there’s a comfort level there that’s rare for both of them with their level of status and fame.”
“Meg has never been part of the industry pile-ons or the mocking that Tom’s dealt with over the years. She’s always defended him privately and made it clear she respects how disciplined and committed he is to his craft and that hasn’t gone unnoticed by him Tom,’ the source shares.
“He values loyalty above nearly anything else so he’s always had a lot of time for Meg and appreciates she’s been there for him.
“He’s always raved about what a great person she is. He loves that she’s stayed grounded even with all her massive success.”