Expenses allowed to be claimed by Doctors in Income Tax Return

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  1. sir i am doctor running a hospital ,what type of re cord i should maintain and various expenses which can allowed to me please suggest
     
  2. rudrabose

    rudrabose Active Member

    All expenses incurred by you in earning the Consultancy Fees would be allowed to be claimed as an expense provided you have receipt of the all the expenses.

    Some examples of expenses allowed to be deducted are:-
    1. Office Rent
    2. Salary paid to Staff
    3. Internet & Phone Bills etc etc
     
  3. my recipt and expenses are as above please guide
     

    Attached Files:

  4. As per the print screen attachment, total expenses Rs. 9,33,788 out of which E-Tech Projects Hmo Exp. if not related to your consultancy business will not be allowed. Besides this, some portion of Petrol & HSD and Elect. Exp may be disallowed as personal expenses.
    Out of your gross receipt of Rs. 17,62,535 above expenses are to be deducted and on the Net receipt (i.e Gross receipt minus expenses as explained above) along with your interest on savings bank account and other income (which you may have not recorded in the tally) shall be taxable as per the provision of I.T Act.
     
  5. sir receipt upto23/02/2015 is 1762535/- as i am mainly doing outdoor practice so indoor recipt is less Is it objectionable what amount i can expent in head of salary
     
  6. Any expense you claim to be spent in relation to your consultancy business should be validated with the proof and should be justifiable.
    If you cannot show the ITO your proof of expenses and is not justifiable those expenses will be added back to your taxable income.
     
  7. Sir i am maintaing 1 opd register 2 recipt 3stock register for permanent articles 4 salary voucher 5 expense file . 6 cash book in telly sir what else i should maintain
     

    Attached Files:

    Last edited: Feb 27, 2015
  8. sir i am also dispesing vaccine since 2 year turnover is about 1 lacs only can i take advantage of composition sheme profit 8% separatly then hospital income
     
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