Whether you’re a salaried professional in Kharadi, a freelancer in Kothrud, a business owner in Bhosari, or an NRI with property income in Pune, choosing the right tax regime and filing an accurate, on-time return can save significant money and prevent notices. Since Budget 2025, the new tax regime is the default option with revised slabs and a higher rebate, making the old-vs-new regime decision more important than ever for FY 2025-26. This guide covers current tax slabs, the regime comparison, ITR deadlines, documents needed, and how a Pune-based CA-led income tax consultant can help — from simple salary returns to notice replies and NRI taxation.
Income Tax Slab Rates for FY 2025-26 (AY 2026-27)
| Direct Answer For FY 2025-26 (AY 2026-27), the new tax regime — now the default — has no tax up to ₹4 lakh, rising in slabs of 5% to 30% above ₹24 lakh, with a rebate under Section 87A making income up to ₹12 lakh effectively tax-free. The old regime retains the ₹2.5 lakh exemption with 5%, 20%, and 30% slabs, and remains available only if you actively opt in via Form 10-IEA. |
New Tax Regime (Default) — FY 2025-26
| Income Slab | Tax Rate |
| Up to ₹4,00,000 | Nil |
| ₹4,00,001 – ₹8,00,000 | 5% |
| ₹8,00,001 – ₹12,00,000 | 10% |
| ₹12,00,001 – ₹16,00,000 | 15% |
| ₹16,00,001 – ₹20,00,000 | 20% |
| ₹20,00,001 – ₹24,00,000 | 25% |
| Above ₹24,00,000 | 30% |
- Rebate under Section 87A: Up to ₹60,000, making taxable income up to ₹12 lakh effectively tax-free.
- Standard Deduction: ₹75,000 for salaried individuals and pensioners under the new regime.
- With standard deduction, salaried individuals pay no tax up to ~₹12.75 lakh gross salary.
- Most Chapter VI-A deductions (80C, 80D, HRA, etc.) are not available under the new regime, though employer NPS contributions under Section 80CCD(2) still are.
Old Tax Regime (Optional, via Form 10-IEA) — Individuals Below 60
| Income Slab | Tax Rate |
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 – ₹5,00,000 | 5% |
| ₹5,00,001 – ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
Standard Deduction under the old regime: ₹50,000, plus eligibility for 80C, 80D, HRA, home loan interest, and other Chapter VI-A deductions.
New Regime vs Old Regime — Which Should You Choose?
| Direct Answer Choose the new tax regime if you have few deductions to claim — it now offers lower rates and a higher rebate threshold. Choose the old regime if you have significant deductions (home loan interest, 80C investments, HRA) that would reduce your taxable income well below what the new regime’s lower rates alone would achieve. |
| Factor | New Regime (Default) | Old Regime (Opt-in) |
| Basic Exemption | ₹4 lakh | ₹2.5 lakh |
| Standard Deduction (salaried) | ₹75,000 | ₹50,000 |
| Section 87A Rebate | Up to ₹60,000 (income up to ₹12L) | Up to ₹12,500 (income up to ₹5L) |
| 80C, 80D, HRA Deductions | Not available | Available |
| Best For | Those with few deductions/investments | Those with home loans, insurance, high HRA claims |
| Switching | Default; no form needed | Must actively opt in via Form 10-IEA (business income has restrictions) |
Income Tax Services We Offer in Pune
ITR Filing for Individuals & Businesses
Covering salary income, house property income, capital gains, business/professional income, and other sources — with a computation sheet showing exactly how your tax was calculated.
Tax Planning & Advisory
Regime selection (old vs new), investment planning under Chapter VI-A, and capital gains structuring to legally minimize your tax liability.
TDS Compliance & Return Filing
TDS calculation, deposit, and quarterly TDS return filing (Form 24Q/26Q) for businesses and individuals with TDS obligations.
Income Tax Notice & Assessment Support
Drafting and filing responses to income tax notices (143(1), 148, 139(9), etc.) and representation during scrutiny assessments.
NRI Taxation Services
Residential status determination, NRI ITR filing, repatriation certificates (15CA/15CB), and lower/nil TDS deduction certificates for NRIs selling property in India.
Capital Gains Tax Advisory
Guidance on short-term vs long-term capital gains, indexation benefit, and exemptions under Sections 54, 54F, and 54EC for property and investment sales.
Our Income Tax Filing Process
| Direct Answer ANBCA’s ITR filing process has 4 steps: share your Form 16 and income details, receive a tax computation sheet with savings options, review the calculations together, and get the final CA-reviewed e-filing — typically completed within 2–4 working days of receiving complete documents. |
- Share Documents: Send Form 16, other income proofs, TDS details, and investment proofs over email or WhatsApp.
- Tax Computation: We prepare a computation sheet comparing old vs new regime, highlighting the most tax-efficient option and any savings opportunities.
- Review with Client: Walk through the calculations together to confirm accuracy and answer any questions before filing.
- Final CA Review & E-Filing: A Chartered Accountant reviews the return before it’s filed electronically, and you receive the acknowledgment (ITR-V) immediately.
ITR Filing Deadlines for FY 2025-26 (AY 2026-27)
| Category | Due Date |
| Individuals & entities not requiring audit | 31st July 2026 |
| Businesses requiring tax audit | 31st October 2026 |
| Businesses requiring transfer pricing report | 30th November 2026 |
| Belated / Revised Return | 31st December 2026 |
Missing the original deadline still allows a belated return by 31st December, but with late filing fees under Section 234F (up to ₹5,000) and loss of certain carry-forward benefits.
Documents Required for Income Tax Filing
- PAN Card and Aadhaar Card
- Form 16 (for salaried individuals) from all employers in the financial year
- Form 26AS and Annual Information Statement (AIS) for TDS/TCS reconciliation
- Bank statements and interest certificates from banks/post office
- Capital gains statements (mutual funds, shares, property sale documents)
- Rent receipts and house property loan interest certificate (if claiming HRA/home loan deduction under old regime)
- Investment proofs for 80C, 80D, and other deductions (only relevant under the old regime)
- Business/professional income details — P&L and balance sheet, if applicable
Who Needs an Income Tax Consultant in Pune?
- Salaried professionals in Hinjewadi, Kharadi & Baner with multiple Form 16s, ESOPs, or capital gains from stocks/mutual funds
- Freelancers & consultants in Kothrud & Viman Nagar with irregular income needing advance tax planning
- Business owners in Bhosari, Chakan & Pimpri-Chinchwad needing TDS compliance and business income computation
- NRIs with rental income, property sales, or investments in Pune needing residential status determination and repatriation certificates
- Anyone who has received an income tax notice and needs professional representation
Why Choose ANBCA & Co. as Your Income Tax Consultant in Pune
- 1,000+ Income Tax Returns filed — real experience across salary, business, capital gains, and NRI cases.
- Dedicated in-house team working exclusively on income tax filing and advisory, not outsourced.
- CA-reviewed computation sheet before every filing — you see the numbers and the regime comparison before we submit.
- Transparent pricing, 100% confidentiality, and a timely filing guarantee.
- Reviewed by CA Amit Bhutada, Founder of A N Bhutada & Co., with over a decade of experience in taxation, ROC compliance, and business advisory.
- Registered office in Pune (Swargate) — real local presence, not a pan-India call center.
FAQ
Q: What is the income tax slab rate for FY 2025-26?
A: Under the new tax regime (default), income up to ₹4 lakh is tax-free, then taxed in slabs from 5% up to 30% above ₹24 lakh. A rebate under Section 87A makes taxable income up to ₹12 lakh effectively tax-free.
Q: Which is better — old or new tax regime?
A: The new regime is better if you have few deductions to claim, since it offers a higher exemption and lower rates. The old regime is better if you have significant deductions like home loan interest, 80C investments, or high HRA claims.
Q: What is the due date for filing ITR for AY 2026-27?
A: For individuals and entities not requiring an audit, the ITR filing due date is 31st July 2026. Businesses requiring a tax audit have until 31st October 2026, and a belated return can still be filed by 31st December 2026 with a late fee.
Q: Do I need a CA to file my income tax return?
A: A CA is not legally mandatory for simple salary returns, but is recommended if you have capital gains, business income, multiple Form 16s, or want to compare old vs new regime accurately — errors in self-filing often trigger notices.
Q: What documents do I need for ITR filing?
A: You need PAN, Aadhaar, Form 16 (if salaried), Form 26AS/AIS, bank interest certificates, capital gains statements, and investment proofs if opting for the old regime with deductions.
Q: Can I switch between the old and new tax regime every year?
A: Salaried individuals can switch regimes every year when filing their return. Those with business or professional income have restrictions and must file Form 10-IEA to opt for the old regime, with limited ability to switch back.
Q: What is the penalty for late ITR filing?
A: A belated return filed after the due date but before 31st December attracts a late fee of up to ₹5,000 under Section 234F (₹1,000 if total income is below ₹5 lakh), plus interest on any unpaid tax.
Q: How is capital gains tax calculated on property sale?
A: Long-term capital gains (property held over 24 months) are taxed after allowing indexation benefit, with exemptions available under Sections 54 and 54EC if reinvested in another property or specified bonds within the prescribed time.
Q: Do NRIs need to file income tax returns in India?
A: Yes, NRIs must file an ITR in India if they have taxable income from Indian sources — such as rental income, capital gains, or interest — exceeding the basic exemption limit, regardless of where they currently reside.
Q: What is Form 26AS and why does it matter?
A: Form 26AS shows all tax credits (TDS, TCS, advance tax) linked to your PAN as recorded by the Income Tax Department. Mismatches between Form 26AS and your return are one of the most common reasons for receiving a tax notice.
Q: What should I do if I receive an income tax notice?
A: Read the notice carefully to identify the section and reason, respond within the given deadline through the income tax portal, and consult a CA if the notice involves a discrepancy, scrutiny, or demand you don’t understand.
Q: Is the standard deduction available under both tax regimes?
A: Yes, but the amount differs: ₹75,000 for salaried individuals and pensioners under the new regime, and ₹50,000 under the old regime.
