TaxTMI 
TaxTMI 
Maintenance of Books or records for Assessment purposes
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....aintenance of Books or records for Assessment purposes<br> Query (Issue) Started By: - SANJAY BAHETI Dated:- 15-11-2014 Last Reply Date:- 15-11-2014 Accounting - Auditing<br>Got 1 Reply<br>Companies L....
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....aw<br>For how much longer period the Books of Accounts,Invoices, Excise Records,VAT Records,other Documents etc is to be kept by the Assesse from the following angles as i) under Income tax Act/law ....
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.... 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 a....
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....nd 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 en....
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....d 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 ....
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....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 reg....
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....arding 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.<br> Di....
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