maintaning books of account
This query is : Resolved
18 August 2009
i have been maintaning books of account of my partnership firm in computer .my pc hard disk has crashed nd i forgot to take backup of data.i have filed returns of partnership firms for previous years in time till now.can assessing officer demand books of account in case of assessment .if so is it nesessary to maintain buks of account .wat should i do incase assessing officer demands books of accounts
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).
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
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 on travel by air for business purposes
- CLOSING STOCK QUERY
- Requirement under FEMA &RBI
- F&O reporting in ITR
- Taxation on Old jewellery sold
- Loss of interest in PF transfer from EPFO to Trust
- Short Term Gain Reporting ITR
- Query regarding reporting of exempt foreign remuneration in ITR
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- U/S 194 T
- 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
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
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
