ITR Filing Guide for Salaried Employees in Mumbai

Old vs new regime, HRA for Mumbai rents and common deductions.

Choosing a regime

The new regime offers lower slabs but fewer deductions. If you pay high Mumbai rent and invest under 80C, the old regime may still save more.

HRA in Mumbai

Mumbai is a metro city, so 50% of basic salary is used in the HRA exemption calculation.

Deadlines

Non-audit individual returns are due by 31 July; belated returns attract late fees under Section 234F.

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