ITR Filing 2026 for Salaried Employees in Mumbai — New vs Old Regime

ITR filing season is here. The biggest decision for salaried taxpayers in 2026 is still: new regime or old regime?

**New regime (default)** - Lower slab rates - Standard deduction of ₹75,000 - No 80C, 80D, HRA, LTA deductions - Best for people with few investments / no home loan

**Old regime** - Higher slab rates - Full deductions: 80C (₹1.5L), 80D, HRA, home loan interest (₹2L), NPS - Best for people with home loan, big HRA, or maxed-out 80C

**Rule of thumb** If your total deductions exceed ₹3.75L, old regime usually wins. Below that, new regime is simpler and often cheaper.

**Documents you should keep ready** - Form 16 from employer - Form 26AS and AIS (download from incometax.gov.in) - Bank interest certificate - Rent receipts if claiming HRA (old regime) - 80C proofs: LIC, ELSS, PPF, kids' tuition

**Deadline** July 31, 2026 for non-audit cases. Late filing fee is ₹1,000–₹5,000 plus interest.

We file ITR-1 and ITR-2 for salaried clients with both regime comparison so you don't pay a rupee more than required.