Books of accounts

How many years books of accounts have to be maintained? (assume current FY 2013-2014 / AY 2014-2015), since which F.Y./ A.Y. we have to keep the books of A/c's with us.

We having records of more than 30 yrs, we want to dispose of that, whose permission is needed and under which clause/ notification / circular the permission is to be sought for disposal of books of accounts.

 

 

 

 

 

Replies (5)

You can refer to the comapnies rules, 1966 for preservation of records. For ready reference i aposting the URL from where u can get the file:

https://www.mca.gov.in/Ministry/actsbills/rules/CPaDoRR1966.pdf

(1) Register of members commencing from the date of the registration of the company ... Permanent.

(2) Index of members ... Permanent.

(3) Register of debenture-holders ... 15 years after the redemption of debentures.

(4) Index of debenture-holders ... 15 years after the redemption of debentures.

(5) Copies of all annual returns prepared under sections 159 and 160 and copies of all certificates and documents required to be annexed thereto under section 160 and 161 ... 8 years from the date of filing with the Registrar.

Dear sir your books of a/c should be maintained for 8 years under income tax. Regards

Mr. Abhishekji, Thanks for your vaulabel reply, which is ineed, really useful for knowledge purpose.

But as per our finding this is applicable for all PVT LTD or LTD Companies, and not applicable to PARTNERSHIP / PROPRITOR / TURSTS / HUF etc or other companies.

If you can put a light in this matter, it would be highly grateful of you.

 

 

Thanks Mr. MANOJ JI, is there any noticication issued by the IT department under which we can write to them seeking their aprroval in writing for disposal of old record, beyond the sepcified time,

like this is 2013-2014 , so i presume that 8 yrs record will be 2006-2007, so under which notification we have to ask to the IT officer for approval for disposing of books and records of last 40+ yrs or more old books and records.

 

 

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