Maintanance of books of accounts by individual assessee
This query is : Resolved
DINESH KOTHARI
(Querist)
21 September 2012
i want to know about maintanance of book of accounts. what is the time for compulsory maintanance of books of accounts by individual / huf having income from other source / capital gains.
please reply.
please reply.
Amol S Joglekar
(Expert)
21 September 2012
44AA gives the various books of accounts to be maintained. At present the better way of maintaining all such accounts is use TALLY software.
DINESH KOTHARI
(Querist)
22 September 2012
amol sir
i want to know about the time period for which books to be kept as per income tax act by individual assessee having income from other source/capital gains
i want to know about the time period for which books to be kept as per income tax act by individual assessee having income from other source/capital gains
Amol S Joglekar
(Expert)
22 September 2012
You mean PRESERVE? Normally the business houses keep it for 16 years as per general clauses Act. Now with the computerisation, people are having books of accounts right from day one.
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
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Query on effect of registration of property
- GST on reimbursement of expenses
- Visiting card purchase
- Wrong CMPo8 file
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Number of years as per AS amortisation of Goodwill
- Whether output tax is taken credit by purchaser
- Equity Share Sale and Purchase
- Additional trade name
- Foriegn assets disclosure
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
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
