books of account
This query is : Resolved
ca vishal aggarwal
(Querist)
18 August 2009
i have been maintaing accounts on computer in tally.my pc hard disk has crashed nd i forgot to take backup of data.now i donot have any accounting data .i have filed return of income regularly till now .plz provide me is it necessary to maintain books of account for previous years.can accessing officer demand books of accounts.wat should i do
Taranjit Singh
(Expert)
18 August 2009
You have to consider these points....
How Prolonged Books To Be Possessed ?
These books have to be kept for six years.
Consequence for failure to maintain books of account
Penalty Can be imposed for Rs 25,000 u/s 271A by the A.O or CIT(A).
How Prolonged Books To Be Possessed ?
These books have to be kept for six years.
Consequence for failure to maintain books of account
Penalty Can be imposed for Rs 25,000 u/s 271A by the A.O or CIT(A).
Manmohan ACA, CS
(Expert)
19 August 2009
completely agree books of a/c needs to be maintain for 6 yrs
Praveen Sharma
(Expert)
19 August 2009
A.O. can demand books of previous 6 years. hence needs to maintain.
Ankur Garg
(Expert)
19 August 2009
As per section 209(4A) of the companies act, 1956 books of accounts required to be maintained for 8 years.
Regards
Regards
shriniwas21
(Expert)
19 August 2009
Again u have to prepare books of accounts
if Ao demand books of a/c's by asking him sufficient time to prepare the bokks of a/c's.
if Ao demand books of a/c's by asking him sufficient time to prepare the bokks of a/c's.
CMA Arif Farooqui
(Expert)
20 August 2009
agree with ankur and shriiwas
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Issuing of delivery challan by seller of goods
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
