05 January 2012
SN is a doctor and recieves salary and he also visits few nursing homes in the city and receives professional fee and those Nursing homes made TDS u/s 194H AND some u/s 194J.
That professional fee amounts to Rs.50,000/-. Is he under obligation to maintain books of accounts being professional.? OR CAN he show this under head IFOS?
He did not maitain accounts.
Doctor asks me to show entire receipts of Rs.50,000/- as profit if a/cs are compulsory. But i am not convinced.
Please advise me as i have to file his return of income.
10 August 2012
As per law the Books of account are required to be maintained. It will not be appropriate to file his return under no account case. As in the nature of business you have to specify as "Medical Professional", and the law has provided a limited exclusion, so I do not advise to file the return in no account case. .