Period of books of accounts required to be maintained

This query is : Resolved

Bibek kumar shrivastav (Querist)
Follow

20 September 2011 We(company) have filled ROI since the A.y-2001-02 to till A.y.& also keep the record of those A.y.

My question is , how many year we need to keep the Closed books of accounts & related records,as per company act & incometax act.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

20 September 2011 1) As per companies Act,1956, books of accounts and vouchers of eight years had to be preserved.
2) As per Income tax Act,1961, six years account books and bills and vouchers had to be preserved if no litigation is pending for prior to six year's accounts.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now