banner_ad

Accounting Methods

This query is : Resolved 
Profile Image

Profile Image

(Querist)
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???
Profile Image

CA. B.SRINIVASULU

Profile Image

CA. B.SRINIVASULU (Expert)
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.
Profile Image

Manmohan ACA, CS

Profile Image

Manmohan ACA, CS (Expert)
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details