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Maintenance of books

This query is : Resolved 


Querist : Anonymous

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Querist : Anonymous (Querist)
28 September 2010 I am a medical practitioner. Do I need to maintain any accounts?

28 September 2010 Yes. All the books and document prescribed for professional [refer last question] need to be maintained. Additionally, a daily case register in prescribed form no.3C and an inventory of drugs, consumables and other stocks also need to be maintained.

28 September 2010 yes if gross receipts from profession exceeds 1,50,000/- as per rule 6F of income tax act.
[Provided that nothing in this sub-rule shall apply in relation to any previous year in the case of any person if his total gross receipts in the profession do not exceed one lakh fifty thousand rupees in any one of the three years76 immediately preceding the previous year, or, where the profession has been newly set up in the previous year, his total gross receipts in the profession for that year are not likely to exceed the said amount.]
The books of account and other documents referred to in sub-rule (1) shall be the following, namely:
(i) a cash book;
(ii) a journal, if the accounts are maintained according to the mercantile system of accounting;
(iii) a ledger;

A person carrying on medical profession shall, in addition to the books of account and other documents specified in sub-rule (2), keep and maintain the following, namely :—
(i) a daily case register in Form No. 3C;
(ii) an inventory 82[under broad heads,] as on the first and the last day of the previous year, of the stock of drugs, medicines and other consumable accessories used for the purpose of his profession.

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