Question 1

Who is eligible for Section 44ADA presumptive taxation?

Accepted Answer

Resident Indian professionals including software engineers, freelancers, doctors, lawyers, accountants, designers, consultants, and technical service providers with gross receipts up to ₹75 Lakhs (provided cash receipts don't exceed 5%).

Question 2

Do I need to maintain accounting books or get audited under 44ADA?

Accepted Answer

No. If you declare 50% or more of your gross receipts as taxable profit, you are exempt from maintaining books of accounts under Section 44AA and tax audit under Section 44AB.

Question 3

When is advance tax paid for Section 44ADA?

Accepted Answer

Assessees declaring income under Section 44ADA can pay 100% of their advance tax in a single installment on or before 15th March.

Section 44ADA Calculator for Freelancers