For Professionals (Developers, Designers, Consultants) with receipts up to ₹75 Lakhs. Pay tax on only 50% of your income.
Section 44ADA is a presumptive taxation scheme for professionals in India. It allows you to declare 50% of your gross receipts as your taxable income, assuming the remaining 50% covers your professional expenses.
Tax Saving Tip for Freelancers (Section 80CCD)
Freelancers and self-employed professionals can save extra tax on up to ₹50,000 via NPS Tier 1 above standard limits.