I have failed to maintain accounts properly for company

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I have miserably kept my accounts , with out filling it returns for 2 years Any roadmap how to recover accounts from this
Replies (5)
Ok. u can do it.
There are many things, do from scratch, like for debtors, creditors, u may be having bills, or bank entries. From there u can find iut sales, purchases, u can even take help of VAT or service tax returns, if filled in this regard.
For fixed assets bills, warrant cards, payments by bank can help u.
For electricity or telephone expenses u may get bills online from website of electricity board or like that.
For salaries, obviously u must know it or have hint of near by salaries.
Another thing, bank account can reveal much data. So evaluate each and every entry in the bank statement.
u will be liable relevant under act applicable to u imprisonment and punishment

Start from bank. Bank statements are the most reliable source. Just start to maintain all the records of receipts and payments. You will find many answers from there. Then maintain ledgers from all the vouchers you have.

Dont get panic . Gather all the details u have with u . take long breathe and keep calm and link the papers u have ,soon u can get what u required which may not b complete but certainily beter than before. All the best . May god bless U.

Venkat lets not give threat to the queriest. What will the dept. get by booking any assessee?? The department will only ask for penalty and interest. Still if the assessee denies, then only government will take strict action. 

 

Prem as advised by other experts, do not get panic, just chill and hire any Tax Professional (if u can't manage by ur own), and dress ur books accordingly. U'll b asked only for interests and penalties(if applicable). Just pay it and try not to mix up the things again. 


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