Time limit for keeping books for Individual

Dear Gopal,

I think -

Income tax law - Irrespective of assesse - generally specify 6 year (8 years in case of Transfer Pricing) from the end of AY that Practically means around 7 (or 9) years...

Apart from this Company law prescribes retyention of Books for last 8 years............

I don't think Partnership Act provides for any period of retention of Books..........

Rest I m not sure.......

Dear Gopal,

Regarding ur 2nd query discovery of mistake after the expiration of period of retention.....

Brother, In income tax, period of retention has role to play only if Time limit of Notices /Asseseements/ Reassessments is there........If these time limit has expired then AO cannot do anything....