New vs Old Tax Regime — ITR Filing Guide for Satara & Pune (FY 2025-26)

By CA Reshma Jadhav, FCA · Satara · Wed Jun 10 2026 05:30:00 GMT+0530 (India Standard Time)

ITR season for FY 2025-26 (AY 2026-27) is now open. The due date for salaried individuals and non-audit businesses is 31st July 2026. The single biggest decision this year: new tax regime or old? This guide gives you a clear, worked answer — with the right context for Satara, Karad, Wai and Pune taxpayers.

ITR Due Dates — FY 2025-26 (AY 2026-27)

New vs Old Tax Regime — Which is Better for You?

This is the question every CA hears in ITR season. The honest answer depends on your actual deductions. Here is the complete picture for FY 2025-26:

The Break-Even Rule of Thumb

The new regime wins if your total deductions are below approximately ₹3.75 lakhs (combining 80C + HRA + home loan interest + 80D + NPS + LTA). The old regime wins if your deductions exceed this.

For most salaried employees in Satara earning ₹8–12 lakhs with a home loan, school fees (80C), and medical insurance (80D), the old regime typically saves ₹20,000–₹60,000 more in tax annually. For those without these commitments, the new regime’s simplicity and lower rates often win.

Which ITR Form Should You File?

Most salaried employees in Satara government jobs, private companies, and schools use ITR-1. Small shop owners and professionals often use ITR-4. If you hold shares and mutual funds, you need ITR-2 or ITR-3.

Documents You Need for ITR Filing

Key Tax-Saving Sections Under the Old Regime

If you opt for the old regime, these are the deductions that matter most for Satara taxpayers:

• Section 80C (up to ₹1.5 lakhs): EPF, PPF, LIC, ELSS mutual funds, school tuition fees, home loan principal repayment, NSC, 5-year FD
• Section 80CCD(1B) (₹50,000 extra): NPS contribution — over and above the 80C limit
• HRA (House Rent Allowance): Exempt portion depends on actual rent, city, and salary — must have rent receipts and landlord PAN if annual rent exceeds ₹1 lakh
• Section 24(b): Home loan interest deduction up to ₹2 lakhs per year on self-occupied property
• Section 80D: Medical insurance premium — up to ₹25,000 (self/family) + ₹50,000 for senior citizen parents
• Section 80TTA / 80TTB: Savings bank interest (₹10,000 for individuals) or interest income for senior citizens (₹50,000)

Advance Tax — Did You Pay?

If you have income other than salary (business, rent, capital gains, interest) that results in tax above ₹10,000 for the year, Advance Tax should have been paid in four instalments: 15th June, 15th September, 15th December, and 15th March.

If you missed instalments, interest under Section 234B (1% per month on 90% of total tax) and Section 234C (1% per month on shortfall per instalment) applies and shows up automatically in your ITR computation. A CA can calculate your exact liability and advise on minimising it.

Online ITR Filing — Step by Step

1. Login to incometax.gov.in with your PAN and Aadhaar-linked mobile
2. Go to e-File › Income Tax Returns › File Income Tax Return
3. Select AY 2026-27 and choose Online mode
4. Select the correct ITR form (ITR-1/2/3/4 based on your income type)
5. Choose your tax regime (new or old) — compare both before deciding
6. Pre-filled data appears from Form 26AS and AIS — verify each entry carefully
7. Add any income not pre-filled: rent, interest, capital gains, business profit
8. Claim all applicable deductions under the old regime
9. Verify tax payable / refund due and pay any balance tax before submission
10. Submit and e-verify using Aadhaar OTP, net banking, or DSC — within 30 days of filing

Frequently Asked Questions — ITR Filing Satara

What is the ITR filing due date for FY 2025-26? 31st July 2026 for salaried individuals and non-audit businesses. 31st October 2026 for businesses and professionals requiring a tax audit.

Which ITR form should I file? ITR-1: salaried up to ₹50 lakhs. ITR-2: capital gains, multiple properties, foreign income. ITR-3: business/professional income. ITR-4: presumptive scheme (44AD/44ADA). Call +91 81779 22977 if unsure.

Should I choose new or old tax regime for FY 2025-26? If your total deductions (80C + HRA + home loan interest + 80D + NPS) are below ₹3.75 lakhs, the new regime usually saves more tax. Above that threshold, the old regime is generally better. A CA will calculate your exact break-even.

Can I file ITR online from Satara? Yes. CA Reshma Jadhav & Company provides online ITR filing for salaried, business, NRI and capital-gains cases across Satara, Karad, Wai and Pune — including capital gains, house property and foreign income. No in-person visit required.

What is the penalty for late ITR filing? ₹5,000 if filed after 31 July 2026 (₹1,000 if income below ₹5 lakhs). Filing after 31 December 2026 is not permitted except through the Income Tax Department’s condonation process.

CA Reshma Jadhav FCA · M.Com · DISA (ICAI) · ICAI Certified Trainer (GMCS) · M.No. 177451 · FRN 158156W

Practising Chartered Accountant in Satara, Maharashtra with 10+ years of experience in GST, income tax, company registration and business advisory for SMEs across Satara, Karad, Wai and Pune. Also a certified ICAI trainer for GMCS and Pre-CA training programmes at the Sangli, Ichalkaranji and Satara ICAI branches.