Bookkeeping Mandatory for Lawyers
Yes, bookkeeping is mandatory for lawyers in India. According to the Bar Council of India’s Rules, advocates are required to maintain proper books of accounts and records of their financial transactions related to their practice.
These records should include details of fees received, expenses incurred, and any other financial transactions.
Proper bookkeeping helps ensure transparency, ethical conduct, and compliance with tax and professional regulations. It also aids in providing accurate information during tax assessments or audits, if required.
By maintaining organized and accurate financial records, lawyers can effectively manage their financial affairs, demonstrate their professional integrity, and ensure accountability. This practice contributes to a more transparent and trustworthy legal profession overall.
To visit: https://www.mca.gov.in/
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