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Consultancy Income of Doctors

Yasir (article assistant ) (432 Points)

16 July 2023

a doctor have consultancy income from his practice.
now he wants to file ITR
how to file ITR of doctor
it is good to file as presumptive basis or he required to maintain Books of accounts.
if books of accounts maintained how much minimum profit percentage to be shown in ITR

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2 Replies

Yasaswi Gomes new (Finance ) (4487 Points)
Replied 16 July 2023

Just file how an itr is supposed be filed. Schools and hospital accounting different but taxation is the same.

prasad Nilugal ( GST Practitioner & Accounts ) (14196 Points)
Replied 16 July 2023

If total gross receipts were less than 50 lacs in the previous year then 50:% of gross receipt will be charged to tax as per section 44ADA of the income tax act , so he Can Opt for presumptive taxation per section 44 ADA of the income tax Act.if he fulfil all conditions , please refer 44ADA of the income tax Act. in detail . For maintenance of Books accounts please refer , section 44AA of the income tax act .

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