About the Gig Economy Tax Planner
What is the Gig Economy Tax Planner?
This freelancer tax calculator works out tax on gig and freelance income, including the presumptive schemes that let you declare a fixed share of receipts as profit.
It credits TDS already deducted by platforms and clients and shows your refund or balance.
How to use the Gig Economy Tax Planner
- Gig / Freelance Receipts This Year (₹) (sample: 15,00,000)
- Actual Business Expenses (₹) (sample: 2,00,000)
- How You Declare Profit (sample: Presumptive 44ADA – professionals (50% profit))
- Other Income – salary after deductions, interest (₹) (sample: 0)
- TDS Already Deducted by Platforms / Clients (₹) (sample: 1,50,000)
- Tax Regime (sample: New regime)
- Old-regime Deductions – 80C, 80D (₹) (sample: 0)
- Press Plan My Gig Taxes (results also refresh as you type). The result card shows the Income Tax for the Year, along with Taxable profit, Refund due, Advance tax schedule and Scheme check.
Formula used
Profit = 50% of receipts (44ADA) or 6% of digital receipts (44AD) or Receipts − Expenses
- Tax = FY 2025-26 slabs; nil up to ₹12 lakh taxable income in the new regime
Worked example
These are the sample values already filled in the calculator above, and the result it returns for them:
| Input | Sample value |
|---|---|
| Gig / Freelance Receipts This Year (₹) | 15,00,000 |
| Actual Business Expenses (₹) | 2,00,000 |
| How You Declare Profit | Presumptive 44ADA – professionals (50% profit) |
| Other Income – salary after deductions, interest (₹) | 0 |
| TDS Already Deducted by Platforms / Clients (₹) | 1,50,000 |
| Tax Regime | New regime |
| Old-regime Deductions – 80C, 80D (₹) | 0 |
| Result | Value |
|---|---|
| Income Tax for the Year | ₹0 |
| Taxable profit | ₹7,50,000 |
| Refund due | ₹1,50,000 |
| Advance tax schedule | Not needed – balance under ₹10,000 |
| Scheme check | 44ADA allowed up to ₹75 lakh receipts (with cash receipts under 5%) |
| GST registration | Not required below ₹20 lakh for services |
| ITR form | ITR-4 (Sugam) |
Tips for using the Gig Economy Tax Planner
- Check Form 26AS and AIS for TDS deducted in your name before filing.
- Keep business and personal money in separate bank accounts.