How is income calculated under Presumptive Taxation scheme in case of transporters?

The Presumptive Taxation scheme can be opted by person engaged in the transport business who owns 10 or less vehicles.

Here's how taxable income is calculated:
1. For Heavy Goods Vehicles (weighing over 12 tons) -Rs. 1,000 per ton of weight for each month or part of a month the vehicle is owned in the previous year.
2. For vehicles other than heavy goods vehicles -Rs. 7,500 for each month or part of a month the goods are carried by the owner in the previous year.