Income Tax 17 August 2026
ITR Filing 2026 Updates
Freelancers and F&O traders must declare their income under the presumptive taxation scheme, which deems income as 8% of turnover or gross receipts, or 6% for digital or cheque receipts. The income tax return filing for 2026 requires careful consideration of these rules to ensure accurate declaration of income.
ITR filing for 2026 has important updates for freelancers and F&O traders. *Key points to note:*
- Income is deemed to be 8% of turnover or gross receipts under the presumptive taxation scheme
- 6% of turnover or gross receipts if payments are made through cheque or digital modes
Freelancers and F&O traders should carefully review these rules to accurately declare their income.
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