22 January 2015
hello, i have been told to keep accounting of a client from A.Y 11-12. What might be the purpose? My confusion is on Income tax return can be revised of A.Y 13-14, on A.Y 15-16,not before of that. That what might be the reason, please suggest me a solution.
23 January 2015
Income tax Act requires accounting records to be kept for 8 years that may be the reason. AO may reopen the assessment u/s 148 up to 4 years from the end of assessment year.