Dear all,
i am little bit confused about the intension of the company law board for the compulsion of maintainance of books of accounts for 8 years.
Kindly share your views on the said topic.
Thanks
abhishek (article assistant) (113 Points)
17 July 2014Dear all,
i am little bit confused about the intension of the company law board for the compulsion of maintainance of books of accounts for 8 years.
Kindly share your views on the said topic.
Thanks
RoHaN k
(CA & CS)
(308 Points)
Replied 17 July 2014
yes abhishek, refer sec 128(5) of CA 13
1] If an investigation has been ordered in respect of the company under chapter XIV, the CG may direct that the books of accounts may be kept for such longer period as may be deemed fit,
2] Even , Income tax act , mandates to preserve record for 8 years for assessments,
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