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of <h1>Presumptive Taxation: Income Calculated at 8% or 6% of Turnover Under Section 44AD, No Additional Deductions Allowed</h1> Under the presumptive taxation scheme of section 44AD, a taxpayer's income is computed at 8% or 6% of turnover or gross receipts. This computed income is considered the final taxable income, and no further deductions for expenses are allowed, except for deductions under Chapter VI-A. Depreciation cannot be separately deducted, but the written down value of business assets will be calculated as if depreciation under section 32 has been claimed and allowed.
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