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Hi,My friend is a medical professional. He char...

Hi,My friend is a medical professional. He charges professional fee from various customers throug...

Hi,


My friend is a medical professional. He charges professional fee from various customers throughout the year. He doesn't maintain any books of accounts.


For the last financial year, ie 2016-17, the CPC has mailed that his return is defective and asked to fill item 6 in Balance sheet and item 53 in PL account and also the books of accounts of ITR4.


What should he do?

0
Kanishka Jan. 12, 2018

Hi,


Your friend should start maintaining books of accounts. Maintaining books is mandatory for medical professionals. Section 44AA states so.


Your friend should find an accountant and get the books written. He should quickly do it as response to defective notice should be given with in 15 days.


Accountant would need your friends bank statements.

Your friend shouldn't hand over the original bank statements. He should

  • make a photocopy of bank statements.
  • write details against each deposit and withdrawal and then
  • handover the photocopies to the accountant.


Remember, to match new-figures derived from books with your tax returns. In case, there is variation then go for revision of the tax return.


Please avoid filling random amounts in the ITR. ITR is a legal document and tax officers have humongous powers to enquire.


Thank you,

PS: Your friend can apply for time extension too.

PPS: Your friend can post a job at thakurani's job harbor. He may title the job as "Need an accountant". Various thakurani members would apply for the job. Your friend can shortlist and select the best fit for him.h

Hi,


My friend is a medical professional. He charges professional fee from various customers throughout the year. He doesn't maintain any books of accounts.


For the last financial year, ie 2016-17, the CPC has mailed that his return is defective and asked to fill item 6 in Balance sheet and item 53 in PL account and also the books of accounts of ITR4.


What should he do?

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