Property
2 years ago
For any financial statements for RWA , what is the time period we need to maintain these records
A.Hi,
Accounts are to be maintained from 1st April to 31st March every year. And as per direct ( Income Tax Law) and indirect ( GST) laws 6 years from preceding Financial year is maintained as record. And no information is mentioned in Societies Registration Act but companies laws mention 8 preceding years accounting records are to be maintained.
If you find it helpful, please rate my answer. Thank you
Accounts are to be maintained from 1st April to 31st March every year. And as per direct ( Income Tax Law) and indirect ( GST) laws 6 years from preceding Financial year is maintained as record. And no information is mentioned in Societies Registration Act but companies laws mention 8 preceding years accounting records are to be maintained.
If you find it helpful, please rate my answer. Thank you
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Ayantika Mondal @ Prime Legal
Responded 2 years ago
A.Hey,
As per GST and Income tax laws you need to maintain records for at-least 6 years from current accounting year which is 1st April to 31st March. And there is nothing mentioned about it in the Societies Registration Act but under companies law it is 8 preceding years.
If you find it helpful, please rate my answer. Thank you
As per GST and Income tax laws you need to maintain records for at-least 6 years from current accounting year which is 1st April to 31st March. And there is nothing mentioned about it in the Societies Registration Act but under companies law it is 8 preceding years.
If you find it helpful, please rate my answer. Thank you
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A.General rule for any financial record to be kept for 10 years. But as everything is now maintained online in electronic mode you can maintain it for ever.
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A.Dear Sir,
Normally the records to be stored for there years.
Normally the records to be stored for there years.
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