Answer

1. F

   Facts

   Yes. Presumptive income under Sec 44AD or 44ADA is still business or professional income. To use the old regime you must file Form 10-IEA by the due date. The presumptive rates are the same under both regimes.

2. P

   Provisions and law

   • Sec 44AD (now Sec 58)Presumptive income of 6% or 8% of turnover for eligible small businesses
   • Sec 115BAC (now Sec 202)New regime is the default; business filers opt out with Form 10-IEA by the Sec 139(1) due date
3. A

   Analysis

   Presumptive taxation only changes how income is measured, at 6% or 8% of turnover under Sec 44AD (now Sec 58). The regime choice changes slab rates and deductions. A shop owner with ₹8 lakh presumptive income and few deductions often pays less under the new regime. If you want old regime deductions, file the form before the ITR-4 due date.

4. C

   Conclusion

   1. 1Compute presumptive income.
   2. 2Compare old and new regime tax.
   3. 3File Form 10-IEA if choosing the old regime.
   4. 4File ITR-4 quoting the acknowledgement.

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.