Top Section
Explore Business Standard
Don’t miss the latest developments in business and finance.
Save tax with this scheme: Pay tax on only half your income
Running a small business or working as a freelancer? You might be eligible to pay tax on only 50% of your income! This is possible under a special program in India called the Presumptive Tax Scheme. This scheme lets eligible small businesses and professionals pay tax on a presumed income, which is considered to be 50% of their gross receipts (total income before expenses). This can be a great way to simplify your tax filing and potentially pay less tax. Watch the video to know more