hey friends
can anybody tell me the reason for preserving the books of accounts for 8 years under companies Act?
Is there any logic/intention there for 8 years? why can't it be 7 years or 9 or 10 years?
or its just like that?
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Reason for preserving books of accounts for 8 years
Replies (2)
To my knowledge, it is 10 years. Still, i am not aware of any amendments.
Dear , you are right we have to preserve it for eight year but it is not right for some case as minutes book life time and some others are there for life time.
and there is no answers for why, becoz act says if act says for 7 or 77 or 777 years then what can we do.
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