Presumptive Income Tax Filing

Are you eligible business under Presumptive tax Scheme? Disclose income under section 44AD & sec 44ADA and file tax return with cleartax


About This Plan

The plan is designed to help businesses and professionals opting for presumptive taxation scheme or small taxpayers earning casual income like tuition income, interest income etc.ClearTax experts shall help you assess your tax liability and file your income return with Expert-Assistance.

Services Covered


  • Expert-Assisted Tax returns Filing
  • Business hours Expert-Support
  • Documented follow up

Who Should Buy

Should Buy

  • Businesses having annual turnover under Rs. 2cr and declaring income above 8%(no audit)
  • Professionals & Freelancers having annual gross receipts under Rs. 50 lakh and declaring income at 50% or above(no audit)
  • Any other person having casual income.

How It's Done

This plan is equipped with end-to-end online fulfillment via our expert. No hassle, 100% Digital.

5 days estimate
  • Purchase of plan
  • Upload documents
  • Review computation sheet
  • Return filed & acknowledgement generated

Documents To Be Submitted

Bank statements for the financial yearIncome and Expense statements
Gross ReceiptsForm 26AS Tax Credit Statement
Bank statement if interest received is above Rs. 10,000/-Annual Information Statement
Bank statements for the financial year
Income and Expense statements
Gross Receipts
Form 26AS Tax Credit Statement
Bank statement if interest received is above Rs. 10,000/-
Annual Information Statement


  • Only proprietors, Hindu Undivided Families(HUFs) and general partnership firms can opt for the scheme.

  • The benefits include:

    • No requirement to maintain books of accounts
    • No requirement to get accounts audited
    • No need to assess advance tax, advance tax is paid by 15th March of the previous year. Note:Any amount paid by way of advance tax on or before 31st day of March is also treated as advance tax paid during the financial year ending on that day. Note: The scheme applies only to resident assessee who is an individual, HUF, partnership but not limited liability partnership
  • If you declare income less than 8% of turnover and your income exceeds Rs. 2,50,000 (Individual Tax Slab), then you are required to maintain the books of account as per the provisions of section 44AA and has to get accounts audited as per section 44AB.

    If your case falls under above category, you should opt for our Business ITR(Regular) plan.

  • There are certains businesses which are explicitly not allowed to claim the benefits under the scheme. They include:

    • Any business involved in the renting, hire or plying of goods carriages
    • Any business related to agencies
    • Individuals who receive commission or income related to brokerage
    • Any individual who is involved in any profession mentioned under section 44AA(1)
    • Insurance agents, since any income they receive is via commission
  • Yes, return can be revised within a period of one year from the end of the relevant assessment year or before completion of the assessment whichever is earlier. Filing of revised return is not part of the plan. Plan buyer is required to provide full and accurate details to avoid the need for any rectification in the originally filed return.

  • Yes, under the Income-tax Act legal proceedings can be initiated up to 4 to 6 years (depending upon case to Expert'se) prior to the current financial year.

    However, in certain Expert'ses the proceedings can be initiated even after 6 years, hence, it is advised to preserve the copy of return for at least 6 years or maintain it as long as possible.


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Presumptive Income Tax Filing