https://www.taxtmi.com/forum/issue?id=120840 Presumptive taxation under Section 44ADA allows eligible professionals to declare 50% of gross receipts as taxable income without maintaining books of account, preparing a profit and loss statement, or proving actual expenses. If the scheme is not chosen, proper books must be maintained and only actual, supported expenses may be claimed. The scheme is subject to gross receipt conditions, and declaring income below the presumptive rate may trigger books and audit requirements. en-us Fri, 27 Mar 2026 03:56:15 +0530 Fri, 27 Mar 2026 15:47:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=120840 Presumptive taxation under Section 44ADA allows eligible professionals to declare 50% of gross receipts as taxable income without maintaining books of account, preparing a profit and loss statement, or proving actual expenses. If the scheme is not chosen, proper books must be maintained and only actual, supported expenses may be claimed. The scheme is subject to gross receipt conditions, and declaring income below the presumptive rate may trigger books and audit requirements. Discussion-Forum Income Tax Fri, 27 Mar 2026 03:56:15 +0530 https://www.taxtmi.com/forum/issue?id=120840