*Presumptive Taxation Schemes under Section 44AD (for businesses)* Turnover up to ₹2 crore eligible for presumptive taxation from existing was proposed to Increase to ₹3 crore. As per the existing law, if the turnover > ₹2 crore, tax audit is mandatory and now with th e proposed new bill, *tax audit required only if turnover exceeds ₹3 crore* *Presumptive Taxation for Professionals (Section 44ADA)* Turnover up to ₹50 lakh eligible for presumptive taxation was increased to ₹1 crore. As per the act, if turnover > ₹50 lakh, tax audit mandatory and now *tax audit required only if turnover exceeds ₹1 crore.*