preservation of books of accounts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 December 2009
What is period upto which the books of accounts including invoices, bills, vouchers should be preserved under income tax act and VAT law
31 December 2009
As per Income tax law books and accounts are to be preserved for 6 years but as per MVAT these are to be kept upto 10years
31 December 2009
Assessees are required to preserve the specified books of account for a period of 6 years from the end of the relevant assessment year, i.e., for a total period of 8 previous years.
Transfer Pricing documents and information specified under Rule 10D must be maintained for a period of 8 years from the end of the relevant assessment year, i.e., for a total period of 10 previous years.
Transfer Pricing documents and information specified under Rule 10D must be maintained for a period of 8 years from the end of the relevant assessment year, i.e., for a total period of 10 previous years.
ANIL JANGID
(Expert)
31 December 2009
agree
CMA Ramesh Krishnan
(Expert)
31 December 2009
TOTAL PERIOD OF 8 YEARS
CA Ravi Sisodia
(Expert)
31 December 2009
8 years
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