Deemed presumptive income under section 115K now standardizes taxable profits for specified small businesses, subject to a statement requirement. Amendment to section 115K (effective 1 April 1995) revises the presumptive taxation framework: specified persons carrying on retail trade, running eating places, operating or leasing certain motor vehicles, or engaged in prescribed vocations who submit the requisite statement will have a statutory deemed sum taken as their profits from the business or vocation. The amendment adjusts related income thresholds and replaces sub clauses in subsection (4), omits a proviso and subsection (6), and modifies the Explanation to remove a specific carriage reference.