please

presumptive tax for business income @ 8% of turnover

Agree with Dibin Ji.
From AY 17-18 business income @ 6% of turnover if received through bank

What is the meaning of presumptive taxation scheme?

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As per sections 44AA of the Income-tax Act, 1961, a person engaged in business is required to maintain regular books of account under certain circumstances. To give relief to small taxpayers from this tedious work, the Income-tax Act has framed the presumptive taxation scheme under sections 44AD, sections 44ADAand sections 44AE.

A person adopting the presumptive taxation scheme can declare income at a prescribed rate and, in turn, is relieved from tedious job of maintenance of books of account.

Who is eligible to take advantage of the presumptive taxation scheme of section 44AD?| Who is eligible for get the benefit section 44AD| Can an Individaul declare his profit under section 44AD?

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The presumptive taxation scheme of section 44AD can be adopted by following persons :

1) Resident Individual

2) Resident Hindu Undivided Family

3) Resident Partnership Firm (not Limited Liability Partnership Firm)

In other words, the scheme cannot be adopted by a non-resident and by any person other than an individual, a HUF or a partnership firm (not Limited Liability Partnership Firm).

Further, this Scheme cannot be adopted by a person who has made any claim towards deductions under section 10A/10AA/10B/10BA or under  sections 80HHto ​80RRB in the relevant year.