Maintenance of books of accounts
This query is : Resolved
28 December 2009
My client is a partnership concern.It has prepared its accounts and filed the returns for Accounting year 2008-09 in Sep 2009. Please could you let me know till what period do I need to retain the books, vouchers, bills for the above acounting year.
I have read sec 44AA. Can nebody explain as to computation of the six years.
I have read sec 44AA. Can nebody explain as to computation of the six years.
Aditya Maheshwari
(Expert)
28 December 2009
Six years from the end of the assessment year
29 December 2009
As per the provisions of the Income tax act 1961, all entities who are required to get their accounts aduited either under the Income tax act or under any other law is required to maintain the books of accounts and related records.... for a period of six years beginning from the end of the assessment year for which the provisons of the act is applicable.
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