maintaning books of account
This query is : Resolved
ca vishal aggarwal
(Querist)
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
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).
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
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