Presumptive taxation for small business & professionals

In plain language

[DRAFT — verify sections/thresholds in review.] Presumptive taxation lets eligible small businesses and professionals declare income at a fixed percentage of turnover/receipts and skip detailed books and audit:

• Small business — a set percentage of turnover is treated as income (lower for digital receipts).
• Professionals — a set percentage of gross receipts is treated as income.
• Turnover/receipt eligibility limits apply (higher where cash receipts are minimal).

Reviewer: insert the exact sections (44AD/44ADA successors), percentages and turnover limits under the Income-tax Act 2025 before publishing.