Daily Archives: 22/10/2017

Books of accounts

Your income tax return must include income earned from all sources. This includes income earned from your practice, any rental income, income from fixed deposits and savings accounts and income earned from sale of any shares or property, called capital gains. There are 2 ways to calculate income from your practice. Either consider it like […]

Doctors and books of accounts

Every Doctor should maintain regular and proper books of accounts supported by supporting vouchers for expenditure. If the accounts are found to be correct and complete supported by supporting voucher, expenditure actually incurred for the purposes of the profession shall be allowable irrespective of its quantum.As per Income Tax Act, 1961 you can compute your […]