Tax
Section 44ADA
Also known as: Presumptive taxation
A scheme letting eligible professionals declare 50% of income as profit, skipping detailed books.
Section 44ADA lets specified professionals, like doctors, lawyers, and many freelancers, assume 50% of their receipts are profit.
You are taxed only on that half, and you skip maintaining detailed accounts and audits.
It is a huge simplifier for independent professionals earning up to the prescribed limit.
For example
A freelance designer earning ₹20L can declare ₹10L as profit under 44ADA and pay tax only on that, with minimal bookkeeping.