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Records needs to be preserved for how many years?

This query is : Resolved

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)
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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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