Why Must Lawyers Maintain Accounts? — KSLU Ethics Notes
Why Must Lawyers Maintain Accounts?
| Reason | Authority |
|---|---|
| Professional duty to client | BCI Rule 25 |
| Statutory obligation | IT Act, Sec 44AA |
| Penalty for non-maintenance | IT Act, Sec 271A |
| Trust money must be separated | BCI Rule 29 |
| Tax audit if income exceeds limit | IT Act, Sec 44AB |