What % Presumptive income should I apply?

Hi,

I work as a freelance consultant and TDS is deducted under 190-J against my professional fees which is 10%.

When filing my returns what % should i opt in presumptive income.

Thanks in Advance!!

Kumar

Replies (3)
Quick Summary
As a freelance consultant, you're wondering what percentage to apply for presumptive income when filing your tax returns, especially when TDS is deducted at 10% under Section 190-J. For professional income, Section 44ADA of the Income Tax Act allows you to declare 50% of your gross receipts as your profit. This means you can opt for a 50% presumptive income calculation.

If professional income then u/s 44ADA and 50% profit..
For professionals 50% of income 44ADA
50% under section 44ada

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