What Books to be Maintained?

For Specified Professions having Gross Receipts >250000 in any of last 3 years

 ((In case of new business, where Gross Receipts is likely to exceed 250000 during Current Year)

Specified Books to be maintained like

(a)Cash book



(d) Original bills for expenditure

(e)If expenditure up to Rs 50 then payment vouchers

(f)Sales bills / invoices / receipt issued of amount >Rs 25.


In addition, Doctors have also to maintain

(g)Daily case register (mentioning detail is of patient handled daily) .

(h) Opening and closing stock register of Drugs/Medicines and Other Consumables





(Example :-Not a specified profession,Profession having turnover less than 150000 or doing Business)

Books has not been specified

It is mentioned that such books have to be maintained which will 

Such books which enable A.O. to Complete Total Income





Important Points

  • Books to be maintained at the Principal Place of Business or Profession
  • If doing business or profession from more than one premises,can maintain books at different places also
  • Books Required to be kept for period of 6 years from end of Assessment Year

For Example

Financial Year 2015-16,Assessment year is 2016-17

End of Assessment Year is 31 March 2017

Records to be maintained till 6 years from 31 March 2017 i,e 31 March 2023


Penalty for Non Maintenance of Books 

In case, Books of Accounts not prepared or not maintained for prescribed period, then Penalty of 25000 p.a u/s 271A 



  1. Practical Income Tax
  2. Income Tax for Audit Cases (Non Co)

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.