Re: doctors

This query is : Resolved

Pavel (Querist)
Follow

12 September 2016 Dear Experts,

I wish to know that if a doctor whose income as per form 26AS ( deducted under 194J) in AY 2016-17 is less than Rs. 100000/- and he has not filed any income tax return in the previous years as his gross receipts was less than Rs. 100000/-, is he required to maintain books of accounts as per section 44AA?

If not can he file return under "No Account case" part of ITR 4 where the books of accounts are not required to be maintained?

Please clarify.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

12 September 2016 Not required to maintain accounts. Return can be filed under No Account Case.

Pavel

Pavel (Querist)
Follow

13 September 2016 Thanks sir. But as per Section 44AA of Income Tax Act 1961, it is written that when gross receipts in case of specified profession does not exceed Rs. 1.50 lakhs in any of the 3 previous years, he is required to maintain such books of accounts so as to enable the assessing officer to determine his income and Tax liability - how do we interpret these wordings? It is not directly saying that not exceeding the limit of Rs. 1.50lakhs will allow you the option not to maintain books of accounts. Then how can we file return under "No Account Case" ? What options to be selected in ITR 4 in the question " Whether books of accounts are required to be maintained

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

13 September 2016 Books of accounts are to be maintained only when gross receipts exceed the limit. Select No option for the question.

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