Reason for preserving books of accounts for 8 years

Others 536 views 2 replies

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?

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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