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Records needs to be preserved for how many years?

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Querist : Anonymous

Querist : Anonymous (Querist)

27 December 2012 Can Assessing Officer ask for the documents and source of income for expenses incurred before more than 8 years from the AY of which assessment is pending?

Pankaj Gupta

Pankaj Gupta (Expert)

27 December 2012 Although in the act it is prescribed that any year's detail since 1961 can be asked by the authorities. But practically they do not open a case older than 6 years because they themself dont mantain the records older than 6 years.

Querist : Anonymous

Querist : Anonymous (Querist)

27 December 2012 In my case AO asking for the source of income from which i paid expenses and documentary evidences of payment more than 10 years back. Otherwise he is going to disallow tje expenses.

Can he do so?

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