To give relief to small taxpayers having income from business or profession from maintaining books and accounts presumptive taxation scheme was introduced in the Income Tax Act, 1961. This section gives exemption to taxpayers opting for this scheme from maintaining books, audit, paying quarterly advance tax. The scheme is framed under three section of the Income-tax act 1961: • Section 44AD: For small taxpayers engaged in business other than the business of plying, hiring or leasing goods carriages. • Section 44ADA: For small taxpayers having income from profession. • Section 44AE: For small taxpayers engaged in the business of plying, hiring or leasing goods carriages.