The counting will start at 8 AM, an official said. Voting had been held on April 11.
Fromer chief minister Rane, who lost the Assembly election last year from his native Sindhudurg district in coastal Konkan, is trying to enter the Maharashtra Assembly through the bypoll to the Bandra (East) constituency in the metropolis.
He is pitted against Shiv Sena's Trupti Sawant, the widow of former MLA Bala Sawant whose death necessitated the bypoll.
For Rane, this is a make-or-break contest as a defeat would mar his chances of remaining at the centrestage of Maharashtra politics.
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In Tasgaon-Kavthe Mahankal, Suman Patil of NCP, wife of former state home minister R R Patil whose death necessitated the by-election, has the advantage as no other party has fielded any nominee against her as a mark of respect for the former deputy chief minister.
However, there has been speculation that a section of BJP covertly helped Swapnil Patil, a youth BJP leader from Tasgaon, who entered the field as an independent.