What is presumptive taxation scheme? Who can opt for it?


I’ve been filing my ITR under Section 44ADA using ITR-3 for the past two years, covering:

  1. Income from Capital Gains
  2. Income from Freelance Activities

My situation has recently changed, and I now also have salary income in addition to the above two sources.

Given this change, do I need to file my ITR under a different section? Is there a locking period that prevents me from switching from Section 44ADA now?
Please clarify.

Hey @Prateek_Sen,

You can still report your freelancing income under the presumptive taxation scheme. Even if you now have salary income as well, it won’t make a difference in your eligibility to opt for section 44ADA.