https://www.taxtmi.com/acts?id=12528 Companies must keep proper books of account at the registered office or other Indian place as the board decides, recording receipts and expenditures, sales and purchases, assets and liabilities, and prescribed cost particulars; branch offices may keep local books provided summarised returns are sent periodically. Proper books must give a true and fair view and be maintained on an accrual basis and by double entry. Books and vouchers for a statutory preceding period must be preserved, and failures attract penal consequences on responsible persons, subject to a defence where a competent person was charged with the duty. en-us Wed, 11 May 2011 12:57:33 +0530 Wed, 11 May 2011 12:57:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12528 Companies must keep proper books of account at the registered office or other Indian place as the board decides, recording receipts and expenditures, sales and purchases, assets and liabilities, and prescribed cost particulars; branch offices may keep local books provided summarised returns are sent periodically. Proper books must give a true and fair view and be maintained on an accrual basis and by double entry. Books and vouchers for a statutory preceding period must be preserved, and failures attract penal consequences on responsible persons, subject to a defence where a competent person was charged with the duty. Act-Rules Companies Law Wed, 11 May 2011 12:57:33 +0530 https://www.taxtmi.com/acts?id=12528