Income tax summary

Five assessment years, AY 2022-23 through AY 2026-27

Taksh Shah · PAN LAFPS6537L · four filed returns plus the draft FY 2025-26 reconciliation

Where the income came from

Taxable income by head. For the two presumptive years the business figure is the deemed profit, not receipts. Hover any segment for detail.

The business itself, on gross receipts

What the practice actually billed and banked, before any presumptive calculation. This is the one comparison the 44ADA-versus-44AD question does not affect.

The open question for AY 2026-27

The same ₹49.55 lakh of receipts produces very different taxable income depending on which presumptive section applies. Both figures below are from the reconciliation workbook.

Tax payable

Total liability including cess. The first two years fell entirely inside the section 87A rebate; AY 2026-27 cannot be computed until the presumptive question is settled.

Every figure

Amounts in rupees. The AY 2026-27 column is provisional.

What still has to be resolved before filing

From the reconciliation workbook's open-items list, highest priority first.

Things worth knowing about these numbers

Financial year vs assessment year. Each assessment year reports the financial year before it — AY 2026-27 covers FY 2025-26 (April 2025 to March 2026). The CA's file names use the FY, which is why "Comp 24-25" is an AY 2025-26 document.
Business income here is deemed profit, not receipts. FY 2024-25 was filed under section 44ADA at 50% of ₹19,45,240 of gross receipts. The provisional FY 2025-26 figure is 50% of the ₹45,27,927 service slice. Receipts themselves are in the second chart.
The commission slice sits outside presumptive taxation. ₹4,26,915 of FY 2025-26 receipts — Shopify Partner referrals, Artos, Recurpay — cannot go under section 44AD or 44ADA, so its profit has to be computed from actual books and added on top. That profit is not yet known, which is why the provisional total is a floor rather than a final figure.
The form changed with the income. The first two years were ITR-2. From AY 2024-25 it is ITR-3, and AY 2026-27 must stay on ITR-3 regardless of presumptive election, because US shareholdings via INDmoney require Schedule FA, which ITR-4 does not contain.
Salary stopped after FY 2023-24. The ₹2,96,645 in AY 2024-25 does not recur; income since then is professional, capital gains and interest.
One historical discrepancy. The AY 2024-25 computation sheet (29 Jul 2024) shows gross total income of ₹6,45,711 against ₹6,51,322 in the return filed the next day — other-sources income was revised up by ₹5,611. The filed return is used here.
This page is a reading of your own documents, not tax advice. The 44ADA/44AD characterisation, the GST treatment of the commission stream, and whether to revisit AY 2025-26 under section 139(8A) are all positions for your CA to take and document.