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The Economic Times
The Economic Times
O.P. Yadav

Presumptive taxation for professionals: The 50% rule remains-but what changes for deductions and losses under the new tax Act?

CBDT

Ahead of the August 31, 2026 due date for filing Income Tax Returns (ITRs) for Assessment Year (AY) 2026-27 for individuals engaged in business or profession, many professionals, including doctors, advocates, architects, chartered accountants, engineers and technical consultants, want to know whether they can opt for the presumptive taxation scheme under Section 44ADA of the Income-Tax Act, 1961.

At the same time, the Income-Tax Act, 2025 (the New Act), which came into force on April 1, 2026, has given rise to a fresh set of questions about how the presumptive taxation scheme operates for AY 2026-27 under the 1961 Act and how it will operate from Tax Year 2026-27 onwards under the New Act. Will professionals continue to be taxed on 50% of their gross professional receipts? Have the eligibility conditions changed?

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