Doctor having Hospital how maintain his accounts

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jay (Querist)
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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)
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14 March 2008 will attact the Tax Audit.

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)
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15 March 2008 WILL ATTRACT TAX AUDIT .

jay

jay (Querist)
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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)
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18 March 2008 pl reply

kartik_somu

kartik_somu (Expert)
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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)
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19 March 2008 ok sir,

thanks a lot

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