Technical query
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 January 2012
Can a company maintain two seperate books of accounts - one for income tax purposes and the other for company law purposes?
Can you provide any caselaw in support of the same?
Can you provide any caselaw in support of the same?
26 January 2012
Yes Company can maintain two sperate set of books of accounts...one on accrual baisis as per Co's Act and other as per Cash Basis for the purpose of Income Tax...in Recent there was a Decision given by Delhi High Court in this favour...
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