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Business Income & Expenses Tax Calculator
For Individuals (FY 2024-25 & FY 2025-26)
1. Basic Information
2. Calculation Method
Choose 'Normal Business' to enter detailed income/expenses. Choose 'Presumptive Scheme' if you are eligible under sections 44AD, 44ADA, or 44AE.
3. Normal Business Income & Expenses
3. Presumptive Income Details
Sec 44AD: Income is presumed at 6% of turnover/gross receipts received via digital modes.
Sec 44AD: Income is presumed at 8% of turnover/gross receipts received in cash.
Sec 44ADA: Income is presumed at 50% of the total gross receipts from the profession.
Sec 44AE: Income is calculated at ₹7,500 per vehicle per month (or part of a month).
Note: Income is calculated @ ₹7,500 per vehicle for every month (or part of a month).
4. Disallowed Expenses
Expenses of a capital nature (e.g., cost of acquiring an asset, building demolition, tenancy rights, or initial setup costs) wrongly debited as revenue expenses. 100% is disallowed. These should typically be capitalized and depreciated.
Sec 40A(3): Cash payments over ₹10,000 in a day to a single person (or ₹35,000 for transporters). 100% is disallowed.
Sec 37: Corporate Social Responsibility expenses are not considered for business purposes. 100% is disallowed.
Sec 36(1)(va): Employee's contribution to PF/ESI collected but not deposited by the due date under the respective acts. 100% is disallowed.
Sec 40A(2): Payments to specified persons (relatives, etc.) exceeding fair market value. The excess amount is disallowed.
Sec 69C: Any expenditure for which no satisfactory explanation or documentation is provided. Treated as unexplained expenditure and 100% is disallowed.
Sec 40(a)(i): Enter total payments to non-residents without deducting TDS. 100% is disallowed.
Sec 40(a)(ia): Enter the total amount paid to residents on which TDS was required but not deducted. 30% of this amount will be disallowed and added to your income.
Sec 37: Any fine, penalty paid for violation of any law, or illegal payments/bribes. 100% is disallowed.
Any expense of a personal nature debited to the P&L account (e.g., family travel, personal clothing, salary to self). 100% is disallowed.
Sec 43B: Dues like GST, PF, ESI, etc., not paid by the ITR filing due date. 100% is disallowed. This also covers provisions without actual payment for such dues.
For detailed TDS applicability and rates, please visit the official portal.
View TDS Rate ChartCalculation Summary
A. Business Profit / Presumptive Income
₹ 0
B. Total Disallowed Expenses
₹ 0
Net Taxable Income (A + B)
₹ 0
