Presumptive Taxation Scheme
ITR guide for freelancers: Know the correct return form and filing process ahead of August 31 deadline
As the August 31 ITR deadline approaches, freelancers must prepare to file their income tax returns. Unlike employees, they report income from multiple clients, including foreign services, which is fully taxable in India. Details here.
3 min read9 Aug 2026Can a salaried person use presumptive tax for ₹1 lakh freelance income?
Whether you can opt for presumptive taxation under section 44ADA of the Act depends on the nature of your freelance income. If your freelance work qualifies as a specified profession you may opt for the presumptive taxation scheme, as gross receipts of ₹1 lakh are within the prescribed thresholds.
2 min read27 Jul 2026ITR filing 2026: Can professionals and business owners change their tax regime every year?
The new tax regime is the default for taxpayers, with salaried individuals able to choose annually. Business income taxpayers face restrictive rules, allowing a one-time switch between regimes.
2 min read25 Jul 2026Section 44ADA: How freelancers and professionals can legally pay tax only on 50% of their total income
Section 44ADA allows eligible professionals to pay tax on 50% of their gross receipts as taxable income, treating the rest as a deemed expense deduction. The scheme applies to specified professionals with receipts up to ₹50 lakh, extendable to ₹75 lakh if cash receipts are within 5%.
2 min read23 Jul 2026Presumptive taxation: Who should opt for it & who should avoid it? Experts explain
The presumptive taxation scheme offers a simpler way to compute taxable income, but it may not suit every taxpayer. Here's what businesses and professionals should consider before choosing it.
2 min read13 Jul 2026Income Tax Act 2025 simplifies presumptive tax—but one change could hurt taxpayers
The new Income Tax Act largely simplifies presumptive taxation rules, but one change could restrict taxpayers from setting off certain losses against presumptive income.
3 min read13 Jul 2026ITR-3 vs ITR-4: Who can file, who cannot and how to choose right return form
ITR-3 is for individuals and HUFs reporting business or professional income, as well as income from salary, house property, capital gains or other sources. ITR-4 is for resident individuals, HUFs and firms (other than LLPs) that opt for the taxation scheme under Sections 44AD, 44ADA or 44AE.
3 min read25 Jun 2026Income-tax returns: Presumptive taxation scheme for businesses and freelancers explained — Top FAQs answered
Income-Tax Returns: The presumptive taxation scheme simplifies I-T compliance for small businesses, professionals, and freelancers by allowing them to declare income as a fixed percentage of turnover without maintaining detailed books of accounts.
6 min read11 Jun 2026Can freelancers use presumptive taxation under Section 44ADA? Rules explained
Freelancers in India can simplify tax filings using Section 44ADA, allowing them to declare at least 50% of gross receipts as taxable income. Details here.
3 min read23 May 2026New ITR-4 form introduces mandatory investment disclosure for presumptive taxpayers: Here's how to file step-by-step
To file ITR-4 for AY 2026-27, visit the Income Tax e-Filing Portal, verify details, enter income and deductions, validate the form, and submit using Aadhaar OTP or EVC. Eligibility includes earning under ₹50 lakh from business, with specific conditions for freelancers and property owners.
2 min read26 Apr 2026Wait for it…
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