Maintenance of books of accounts

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Querist : Anonymous

Querist : Anonymous (Querist)

08 December 2016 A private company- newly formed, doesnot have much transaction in india and therefore no employees. So the company wishes to maintain books of account in US, where they have group companies but not branches of the indian company. Here books of account of transaction effected in india is talked about.

Kumud prasad

Kumud prasad (Expert)
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08 December 2016 Read second proviso of Sec.128 of Companies ACT,2013

Querist : Anonymous

Querist : Anonymous (Querist)

08 December 2016 I have read..
1. Physically it should be at registered office or such other place, as registered
2. electronically can be maintained provided its server is in india
My confusion as to whether transaction in india, can ne maintained electronically outside india

Querist : Anonymous

Querist : Anonymous (Querist)

Kumud prasad

Kumud prasad (Expert)
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08 December 2016 LAW IS SILENT IN THIS CASE

AS PER MY VIEW YES YOU CAN SUBJECT TO THE CONDITION THAT BOOKS OF ACCOUNTS CAN BE ACCESSIBLE FROM INDIA.

Regards
CS Kumud

Querist : Anonymous

Querist : Anonymous (Querist)

08 December 2016 Thanks for response
One last query- whether physical documents for transaction effected in india, can be maintained outside india, provided it is periodically sent to Indian company