This paper investigates the stability issues of time-varying delay systems. Firstly, a novel augmented Lyapunov functional is constructed for a class of bounded time-varying delays by introducing new double integral terms. Subsequently, a time-varying matrix-dependent zero equation is introduced to relax the constraints of traditional constant matrix-dependent zero equations. Secondly, for a class of periodic time-varying delays, considering the monotonicity of the delay and combining it with an augmented variable approach, Lyapunov functionals are constructed for monotonically increasing and monotonically decreasing delay intervals, respectively. Based on the constructed augmented Lyapunov functionals and the employed time-varying zero equation, less conservative stability criteria are obtained separately for bounded and periodic time-varying delays. Lastly, three examples are used to verify the superiority of the stability conditions obtained in this paper.