It is to be noted that the provisions for presumptive taxation override only sec 28 to 43C and not the provisions of TDS. Therefore, assessee declaring income u/s 44AD, 44ADA or 44AE is liable to deduct TDS. e.g. Every ‘person’ is required to deduct TDS u/s 192 if the estimated salary exceeds the maximum amount not chargeable to tax. Any individual paying salary of Rs. 5,50,000 p.a. would be required to deduct TDS even though he is
Further, sec 194A, 194C, 194H, 194I and 194J have been amended by Finance Act, 2020.
So after amendment in FA 2020, the persons having turnover of more than Rs. 1 crore but less than Rs. 2 crore and declaring income u/s 44AD would be required to deduct TDS under these sections.