Regular books of accounts for medical professionals
This query is : Resolved
11 June 2014
Dear Experts,
Kindly help me.
The Assessee is a Doctor and the gross receipts for the AY 2013-14 is Rs.22.80 Lacs (below Rs.25 Lacs).
Whether the said Assessee is mandatorily to maintain Regular Books of Accounts, as in my case, the said Assessee has filed the ITR under NO ACCOUNT CASE and CPC is yet to process the ITR filed.
Kindly clarify my following query/s:
Whether the said filing is appropriate.
Specific reason, if not appropriate.
Whether it is mandatory for the said Assessee to maintain Regular Books of Accounts. If so, what is the applicable Income Tax Section.
What could be the impact from the CPC, in case, it is found that Assessee has filed the Return under No Account Case.
Please guide me on the above queries.
Kindly help me.
The Assessee is a Doctor and the gross receipts for the AY 2013-14 is Rs.22.80 Lacs (below Rs.25 Lacs).
Whether the said Assessee is mandatorily to maintain Regular Books of Accounts, as in my case, the said Assessee has filed the ITR under NO ACCOUNT CASE and CPC is yet to process the ITR filed.
Kindly clarify my following query/s:
Whether the said filing is appropriate.
Specific reason, if not appropriate.
Whether it is mandatory for the said Assessee to maintain Regular Books of Accounts. If so, what is the applicable Income Tax Section.
What could be the impact from the CPC, in case, it is found that Assessee has filed the Return under No Account Case.
Please guide me on the above queries.
Nikhil Kaushik
(Expert)
11 June 2014
doctors are compulsorily required to maintain the accounts. Please refer section 44AA(1).
you can revise the return to be on safe side.
you can revise the return to be on safe side.
Nikhil Kaushik
(Expert)
11 June 2014
non-compliance of 44AA attracts penalty under 271A
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