Presumptive taxation: failure to comply suspends scheme benefits and can trigger books, audit and reporting obligations. Amendment tightens the presumptive taxation regime by suspending entitlement to presumptive provisions for five assessment years where an eligible assessee fails to declare profit under the scheme for any of the five assessment years following the relevant previous year, and requires such suspended assessees whose total income exceeds the maximum non taxable amount to maintain books, obtain a statutory audit and furnish an audit report; the turnover threshold in the explanatory clause is also increased.