Retention of accounts requires registered persons to keep records for prescribed period and extended retention during appeals or investigations.

Every registered person required to keep books of account or other records must retain them until expiry of seventy two months from the due date of furnishing the annual return for the year pertaining to such accounts and records. Where the registered person is party to an appeal, revision, other proceedings, or is under investigation for an offence under Chapter XIX, the books and records pertaining to the subject matter must be retained for one year after final disposal or for the ordinary statutory retention period, whichever is later.

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