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  1. cleartax.in › s › section-44adaSection 44ADA – Presumptive Tax Scheme for Professionals

    Jun 5, 2024 · Section 44ADA provides a presumptive taxation scheme for small professionals with annual gross receipts under Rs 75 lakhs. The section was introduced to simplify taxation for specified professionals, allowing 50% of gross receipts as presumed income.

  2. cleartax.in › s › freelance-professional-business-incomePresumptive Taxation for Business and Profession - ClearTax

    Jun 5, 2024 · A professional having a gross revenue upto Rs 50 lakhs can opt for the presumptive scheme of tax wherein he can straightaway offer 50% of the gross revenue as his taxable income and pay taxes as per his slab rates on such income.

  3. taxguru.in › income-tax › section-44ada-presumptiveUnderstanding Section 44ADA: Presumptive Tax for Professionals

    Sep 20, 2023 · Section 44ADA of the Income Tax Act provides a unique Presumptive Taxation Scheme (PTS) tailored for professionals. This scheme simplifies tax calculations and compliance for eligible professionals, ensuring ease of doing business.

  4. groww.in › p › taxSection 44ADA - Presumptive Tax for Professionals - Groww

    Section 44ADA of Income Tax Act is a presumptive tax scheme for professionals. Know more about its objectives, eligibility, rates, benefits, and exemptions.

  5. cleartax.in › s › presumptive-taxation-under-sec-44Presumptive taxation under Sec 44AD, 44AE and 44ADA for ...

    Jun 7, 2024 · Presumptive taxation schemes to relieve small taxpayers are provided under Section 44AD, 44ADA and 44AE. While Section 44ADA is for professionals Section 44AD and 44AE concerns small business taxpayers. Let us understand them in detail.

  6. learn.quicko.com › section-44ada-income-taxSection 44ADA: Presumptive Taxation for Profession

    Nov 30, 2023 · Under Budget 2016, the finance minister introduced the presumptive taxation scheme for specified professionals under Section 44ADA of the Income Tax Act. FY 2016-17 onwards, a professional with gross receipts up to INR 50 lacs can take the benefit of presumptive taxation under Section 44ADA.

  7. www.caclubindia.com › articles › presumptiveSection 44ADA | Presumptive Taxation For Professionals

    Apr 12, 2024 · The Scheme of Presumptive Taxation for Professionals was introduced under Section 44ADA in the Finance Act 2016 and is applicable from Financial Year 2016-17 onwards. Before 2016, the benefits of Presumptive Taxation were only given to Businesses under Section 44AD and to Transporters under Section 44AE.