Part DCA - Safe Harbour Rules for income referred to in clause (i) of sub-section (1) of section 9 chargeable to tax under the head (From Rule 10TI to Rule 10TIC)
Books of account maintenance for specified professionals governs records, supporting documents, storage location, and retention period under tax rules. Books of account and specified documents must be maintained by persons carrying on specified professions, subject to the gross receipts threshold. The required records include a cash book, journal where mercantile accounting is followed, ledger, serially numbered bills and receipts, and supporting vouchers, with additional registers and inventory requirements for medical professionals. The records must generally be kept at the place of practice and preserved for six years from the end of the relevant assessment year, subject to continued retention where assessment is reopened.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Books of account maintenance for specified professionals governs records, supporting documents, storage location, and retention period under tax rules.
Books of account and specified documents must be maintained by persons carrying on specified professions, subject to the gross receipts threshold. The required records include a cash book, journal where mercantile accounting is followed, ledger, serially numbered bills and receipts, and supporting vouchers, with additional registers and inventory requirements for medical professionals. The records must generally be kept at the place of practice and preserved for six years from the end of the relevant assessment year, subject to continued retention where assessment is reopened.
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