Accounting Methods
This query is : Resolved
28 March 2009
In case of companies, is there any complusion to use marcantile system of accounting and if yes then under which section of companies act it is allow to use???
28 March 2009
Yes, you have to use merchantile system of accounting.
Section 209 of the companies act deals with books of accounts to be maintained and the manner in which it is to be maintained.
Yes, you have to use merchantile system of accounting.
Section 209 of the companies act deals with books of accounts to be maintained and the manner in which it is to be maintained.
28 March 2009
as per section 209(3) a company shall be deemed to be NOT properly maintaining books of accounts
if it does not follow revelavnt AS and/ or
keeps books of A/c s on merchantile system of accounting
if it does not follow revelavnt AS and/ or
keeps books of A/c s on merchantile system of accounting
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CLOSING STOCK QUERY
- Sale of Mutual Funds In Diffirent Financial Years
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- Missed TDS
- Error in uploading Form 10BD
- NRI INSURANCE ADVISOR
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- TDS on rent received on hardship compensation being rent on redevelopment of building
- CASH GIFT FROM BLOOD RELATIVE
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
