9911796707
TMI BlogMaintenance of Books or records for Assessment purposesX X X X Extracts X X X X X X X X Extracts X X X X ..... Maintenance of Books or records for Assessment purposes X X X X Extracts X X X X X X X X Extracts X X X X ..... Law X X X X Extracts X X X X X X X X Extracts X X X X ..... ii) under Excise Law iii)under Vat Act/Law that is for Assessment purposes Reply By Naveed S: The Reply: Under the Companies Act, 1956, a company is required to maintain its books of account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and vouchers for a period of 8 years immediately preceeding the current year. Under Income Tax Act, assessees are required to preserve the specific books of account for a period of 6 years from the e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd of the relevant assessment year, i.e., for a total period of 8 previous years. Under Central Excise, records to be maintained for 5 years immediately after the financial year to which such records ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pertain. There is nothing like assessment year under Central Excise law. Under VAT, Each State has prescribed the accounts and records required to be maintained by a VAT dealer and the provisions re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... garding preservation of such accounts and records e.g. dealers registered under Delhi VAT are required to preserve records and accounts for 7 years, from the end of the relevant assessment year. X X X X Extracts X X X X X X X X Extracts X X X X ..... iscussion Forum - Knowledge Sharing ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
