New Delhi, May 27 -- For many self-employed professionals, such as freelancer, doctors, CAs, Section 44ADA can make tax filing much simpler. Instead of maintaining detailed expense records and lengthy account books, this rule allows them to treat a huge chunk of their income as profit, cutting paperwork and, helping reduce taxable income legally.

Section 44ADA is a provision in the Indian Income Tax Act that provides a simplified tax calculation scheme for small self-employed professionals. Under this rule, the government assumes 50% of your total earnings are profit and the remaining 50% are expenses related to work.

It simplifies tax filing, reduces paperwork, eliminates the need for maintaining detailed books of accounts in many case...