ITR Due Dates — FY 2025-26 (AY 2026-27)
| Category | Due Date |
|---|---|
| Salaried individuals, pensioners, other individuals (no audit) | 31 July 2026 |
| Businesses and professionals requiring tax audit | 31 October 2026 |
| Partners of firms requiring audit | 31 October 2026 |
| Transfer pricing cases | 30 November 2026 |
| Belated return (late filing with penalty) | 31 December 2026 |
- Filed between 1 Aug — 31 Dec 2026: ₹5,000 late fee (₹1,000 if total income below ₹5 lakhs)
- After 31 December 2026: Only via Income Tax Department condonation — no self-filing permitted
- Interest u/s 234A: 1% per month on tax due, from due date until actual filing date
- Interest u/s 234B & 234C: 1% per month if Advance Tax not paid correctly during the year
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:
- ₹0 — ₹3 lakhs: Nil
- ₹3 — ₹7 lakhs: 5%
- ₹7 — ₹10 lakhs: 10%
- ₹10 — ₹12 lakhs: 15%
- ₹12 — ₹15 lakhs: 20%
- Above ₹15 lakhs: 30%
- Standard deduction: ₹75,000 (salaried)
- Rebate u/s 87A: up to ₹7 lakhs = zero tax
- No 80C, HRA, 80D, home loan interest deductions
- ₹0 — ₹2.5 lakhs: Nil
- ₹2.5 — ₹5 lakhs: 5%
- ₹5 — ₹10 lakhs: 20%
- Above ₹10 lakhs: 30%
- Standard deduction: ₹50,000
- Rebate u/s 87A: up to ₹5 lakhs = zero tax
- All deductions available: 80C, HRA, 80D, home loan interest, NPS, LTA
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.
- Gross salary: ₹10,00,000
- HRA: ₹1,20,000 — Old regime deduction, new regime: nil
- Section 80C: ₹1,50,000 (PPF + LIC + school fees) — Old only
- 80D health insurance: ₹25,000 — Old only
- Home loan interest: ₹1,80,000 — Old only
- Old regime tax (approx): ₹38,500
- New regime tax (approx): ₹54,600
- → Old regime saves ₹16,100 in this case
Which ITR Form Should You File?
| Form | Who Files |
|---|---|
| ITR-1 (Sahaj) | Salaried residents with income up to ₹50 lakhs (salary + 1 house property + other income). Simplest form. |
| ITR-2 | Individuals with capital gains, multiple house properties, foreign income, or income above ₹50 lakhs. No business income. |
| ITR-3 | Individuals with business or professional income. Also includes salary + business. |
| ITR-4 (Sugam) | Presumptive income scheme under Section 44AD (business) or 44ADA (professionals). Income up to ₹50 lakhs (professionals) or ₹3 crore (business with >95% digital receipts). |
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
- ☐ Form 16 from employer (for salaried)
- ☐ Form 26AS and AIS (Annual Information Statement) from incometax.gov.in
- ☐ Bank statements for all accounts (all FY 2025-26)
- ☐ Interest certificates from banks and post office (FDs, savings, RD)
- ☐ Home loan interest certificate from your bank (for Section 24b)
- ☐ Rent receipts and landlord PAN if claiming HRA
- ☐ 80C investment proofs: LIC premium receipts, PPF passbook, ELSS, school fees, EPF
- ☐ 80D health insurance premium receipts
- ☐ Capital gains statements from broker, mutual fund, or property sale
- ☐ Business P&L and Balance Sheet (for business owners)
- ☐ Aadhaar + PAN linked and verified on portal
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.
🔎 Check Your AIS Before Filing
The Annual Information Statement (AIS) on the Income Tax portal pre-fills data from your bank, broker, employer, and other sources. The Income Tax Department cross-checks your ITR against this. Always verify your AIS matches what you are declaring before submitting — mismatches are a common cause of notices after filing. Login at incometax.gov.in › AIS.
Online ITR Filing — Step by Step
- Login to incometax.gov.in with your PAN and Aadhaar-linked mobile
- Go to e-File › Income Tax Returns › File Income Tax Return
- Select AY 2026-27 and choose Online mode
- Select the correct ITR form (ITR-1/2/3/4 based on your income type)
- Choose your tax regime (new or old) — compare both before deciding
- Pre-filled data appears from Form 26AS and AIS — verify each entry carefully
- Add any income not pre-filled: rent, interest, capital gains, business profit
- Claim all applicable deductions under the old regime
- Verify tax payable / refund due and pay any balance tax before submission
- Submit and e-verify using Aadhaar OTP, net banking, or DSC — must be done within 30 days of filing
File Your ITR with a CA in Satara
CA Reshma Jadhav & Company, Satara, handles ITR filing for salaried employees, business owners, professionals, NRIs, and senior citizens across Satara, Karad, Wai & Pune. Regime comparison, document review, and error-free filing included.
📄 Upload Documents & Start 💬 WhatsApp NowFrequently Asked Questions — ITR Filing Satara
31st July 2026 for salaried individuals and non-audit businesses. 31st October 2026 for businesses and professionals requiring a tax audit.
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.
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.
Yes. CA Reshma Jadhav & Company provides online ITR filing for salaried, business, NRI and capital-gains cases across Satara, Karad, Wai and Pune. No in-person visit required.
₹5,000 if filed after 31 July 2026 (₹1,000 if income below ₹5 lakhs). Filing after 31 December 2026 requires a condonation application to the Income Tax Department.
