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of <h1>Direct Taxes Code Bill 2009: Clause 83 mandates record-keeping for professionals and businesses with specific income or turnover thresholds.</h1> Clause 83 of the Direct Taxes Code Bill, 2009, mandates that individuals maintain specific books of account and documents to enable the Assessing Officer to compute total income. This requirement applies to professionals in specified fields and businesses meeting certain income or turnover thresholds. Required records include a cash book, journal, ledger, inventory register, and copies of bills and receipts for transactions exceeding fifty rupees. The Board may specify additional documentation requirements and retention periods based on the nature of the business.
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