Accounts Books to Keep, Income Tax

[Ajay Kedia]

Please let me know the minimum nos. of year's books of acccounts ( alongwith all supporting

documents) to be kept for records as per I.T ACT in case of private firms , manufacturing  unit.

Is it 5+1 , 6+1 or 10+1 years.

regards

Ajay

Posts / Replies

[Naveed S]

For indirect taxes, it is 5 + 1 .

For Income Tax, i am of the view that it is 7+1.

Such periods are same both for private firms as well as for manufacturing units..