FAQs on Maintenance of books of accounts

Chapters / List

1. Who is required to maintain books of accounts?

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2. What is mandatory to maintain books of account in the case of specified professionals?

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3. What is mandatory to maintain books of account in the case of non-specified professionals?

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4. How to check the threshold limit if business or profession is set up during the previous year?

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5. What is mandatory to maintain books of account in the case of taxpayers who opted for a presumptive tax scheme?

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6. Which books of accounts are required to be maintained?

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7. Where books of account and other documents should be kept and maintained?

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8. How long should books of account and documents be kept and maintained?

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9. What is the penalty for failure to keep, maintain or retain books of account and documents?

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