New Delhi, Aug. 24 -- The 31 August deadline for filing ITR-4 for AY 2026-27 is approaching. Taxpayers with income from eligible businesses, professions, or goods-carriage operations can opt for the presumptive taxation scheme under Sections 44AD, 44ADA, and 44AE.

The scheme simplifies tax compliance by allowing eligible taxpayers to declare income at a prescribed rate, reducing the need to maintain detailed books of account and undergo tax audits.

Here is a look at who can opt for each section, the applicable limits, and the key conditions taxpayers should know.

Under the normal system, taxpayers generally calculate taxable business or professional income after accounting for eligible expenses. Under presumptive taxation, eligible tax...