Doctor having Hospital how maintain his accounts

This query is : Resolved

jay (Querist)
Follow

14 March 2008 Dear sir,

I want to knew How Doctor having his own hospital maintain his accounts.

what legal and income tax compliance he has to follow.

Above 40 lacs turn over, he may attract in tax audit or not.?

Please reply

pushpendra

pushpendra (Expert)
Follow

14 March 2008 will attact the Tax Audit.

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)
Follow

15 March 2008 WILL ATTRACT TAX AUDIT .

jay

jay (Querist)
Follow

15 March 2008 (1)Which documents to be prepared in the financial year for finalization & Tax documents?
(2)Is any format of finalization ?

Pl reply

jay

jay (Querist)
Follow

18 March 2008 pl reply

kartik_somu

kartik_somu (Expert)
Follow

19 March 2008 Doctor is a professional and therefore as per Sec 44 AB tax audit will get covered if total receipt during the year exceed Rs. 10 Lacs.

If it is a firm and if all the partners are Doctors then as i said earlier the limit of Rs.10 lacs will be applicable. But if one of tha ertner is not a Doctor then it becomes a business and Tax audit will get covered only if the receipts cross 40 lacs.

jay

jay (Querist)
Follow

19 March 2008 ok sir,

thanks a lot

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Hanuma Yanduri

Jai Solanki

George Innocent

Ravikumar

sandhya.v

Subscribe Now

Doctor having Hospital how maintain his accounts

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

CA Final

Accountant

GST CONSULTANCY

GST CONSULTANT

Manager- Finance and Compliance