Answer

1. F

   Facts

   From tax year 2026-27, presumptive taxation of professionals is in Sec 58 of the Income-tax Act 2025 (old Sec 44ADA), along with business and goods carriage schemes. The idea of 50% deemed income continues.

2. P

   Provisions and law

   • Sec 58, Income-tax Act 2025 (old Sec 44ADA)Presumptive income for professionals, tax year 2026-27 onwards
   • Sec 202, Income-tax Act 2025 (old Sec 115BAC)New tax regime is the default for tax year 2026-27 onwards
   • Rule 76, Income-tax Rules 2026 (old Rule 128), with Form 44 (old Form 67)Foreign tax credit for tax year 2026-27 onwards is claimed in Form 44
3. A

   Analysis

   Your FY 2025-26 return uses Sec 44ADA. For income earned from 1 April 2026, refer to Sec 58. Example: a consultant planning invoicing for tax year 2026-27 should track receipts against the limits in Sec 58 and plan advance tax under Sec 408. Foreign tax credit claims for that year use Form 44 (old Form 67).

4. C

   Conclusion

   1. 1Use Sec 44ADA for FY 2025-26
   2. 2Use Sec 58 for tax year 2026-27 onwards
   3. 3Track receipts against the limits from April
   4. 4Note Form 44 for foreign tax credit

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