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Dental Clinic Fee Income - How Much Tax Do I Need to Pay?

T S Khurana |471 Answers |Ask -Follow

Tax Expert - Answered on Nov 12, 2024

A certified management accountant since 1993, T S Khurana is a fellow member of The Institute of Cost Accountants of India. His areas of expertise are income tax, specifically litigation cases, and GST.

Since the last 21 years, he has also been providing expert advice on financial matters, including investments and diversification of funds, and wealth building in the long term to his clients.
He believes that investment in real estate is the safest way for better returns and wealth generation over a period of time.

A former chairman of the Chandigarh Chapter of Institute of Cost Accountants of India, T S Khurana has also served as member of its technical committee.... more

Asked by Anonymous - Aug 02, 2024Hindi

Money

Sir, A Doctor maintained a dental clinic fees collection income Gross receipts rs 15 lacs profit declared 50 percentage rs:7.5 lacs f.y.23-24. Question: A Doctor account records mandatory rules 6 f (2) as per income tax act

Ans: Yes. He needs to maintain books of accounts u/s 44AA.
Most welcome for any further clarifications. Thanks.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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