How to calculate interest under Section 234C if the assessee has opted presumptive taxation scheme of Section 44AD or 44ADA?

Interest under section 234C applies to presumptive taxpayers where advance tax shortfall attracts a short fixed-period simple interest charge.

For assessees opting for presumptive taxation, interest under the delayed-advance-tax provision is charged when advance tax paid by the prescribed cutoff is less than assessed tax; the shortfall equals assessed tax minus tax deposited by the prescribed date and simple interest at the statutory short-period rate is imposed for the single prescribed short period on that shortfall.