90,000+ Legal Questions Answered
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
Helpful
Helpful
Share
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
Helpful
Helpful
Share
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.
Helpful
Helpful
Share
A.Dear Sir,
Normally the records to be stored for there years.
Normally the records to be stored for there years.
Helpful
Helpful
Share
Read Related Answers
ANCESTRAL PROPERTY LEGAL HEIRS NOT COMING FORWARD FOR PARTITION
Dear Client,
As regards your query no.1) My father's brother wife has a done a gift in name of her only daughter. Is it valid? Ans:- No it is not valid. Until and unless an undivided ancestral propert...
Shop evacuate
Dear Sir,
You can file a suit for permanent injunction and restrain them from forcing you to close your shop if you have taken relevant licenses to run the shop from the local authority that is munici...
Decree by court i r o Specific PERFORMANCE of contract agreement
Dear Sir,
It is a disputed issue which has to be decided again by the Civil Court and you must seek cancellation of such judgment since you are in possession of regular Sale Deed before judgment was p...
Property and Home loan
Dear Sir,
It is a complicated issue. Now a days you cannot believe even the family members. If you go legally it will take years together. If there is possibility take possession of some part of the h...
Remove co owner from FLAT BBA if he is not giving his consent
Dear Sir,
You have to get issue a legal notice to remove co-owners name as it was only for name sake as there was no contribution from him. If builder did not do that then you have to approach Civil C...
Read Blogs on Property
Property Lawyers
Find Lawyers by Location
