Maintaing accounts

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Arbitrager
124 Points Posted on 25 July 2013

Hi,

 

I am a stock trader by profession, My query is "is it necessary to maintain accounts on accountings software like Tally" or mainatianing Bank statements, investment statements,Bills, balancesheet, P&L account on excel ennough?

 

Thanks,

Harshit Patel

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On 25 July 2013 at 21:40 Report
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Practicing Chartered Accountant
242 Points Posted on 26 July 2013
Income tax act does not mention any specific software for maintaining accounts, hence you can maintain it on excel sheets.
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On 26 July 2013 at 09:26

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