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According to the Income Tax Act in India how many years does a company have to keep account books?
Every company must maintain proper books of accounts These books and papers together with the vouchers pertaining to entries made must be maintained for at least 8 years.
It has been clarified by the Department of Company Affairs in their Circular No. 2/83 dated 2/3/1983 that the books of account should be prepared and maintained in indelible ink (and not in pencil).
What else can I help you with?
Can you open the RBI current account for company?
RBI Stands for Reserve Bank of India. RBI is the central bank of India and they supervise the banking operations in the country. They do not provide banking accounts to individuals or company's So, the answer to your question is - No, you cannot open a current account for your company at RBI.
Can an American open an Italian bank account?
It depends:if the person is on a official trip to Italy and will be earning an income while his stay in India then - Yes he can open an account with any Bank in Italy.if the person is on a personal/tourist trip to Italy and will not be earning any income during his stay here in India then - No, he cannot open an account with any Bank in Italy.
What would the income tax be on a 67000 income?
in India notax
Who introduced income tax in India?
James wilson in India..
What are the differences between Nostro and Vostro Account?
Vostro Account: Account held by a foreign bank in a domestic bank is called vostro account. For example UBS of Switzerland opening an account in SBI in India, this is vostro account for SBI India. Nostro Account: Account held by a particular domestic bank in a foreign bank is called Nostro account. Here in the above example given in Vostro account the same account is a Nostro account for UBS Switzerland, or if SBI India opens an account in UBS Switzerland then that account is a Nostro account for SBI India. Nostro accounts are usually in the currency of the foreign country. This allows for easy cash management because currency doesn't need to be converted. Vostro Account: Account held by a foreign bank in a domestic bank is called vostro account. For example UBS of Switzerland opening an account in SBI in India, this is vostro account for SBI India. Nostro Account: Account held by a particular domestic bank in a foreign bank is calledNostro account. Here in the above example given in Vostro account the same account isa nostro account for UBS Switzerland, or if SBI India opens an account in UBSSwitzerland then that account is a Nostro account for SBI India. Nostro accounts areusually in the currency of the foreign country. This allows for easy cash managementbecause currency doesn't need to be converted.
Can a us citizen open an Indian bank account?
It depends: 1. If the person is on an official trip to India and will be earning an income while his stay in India then - Yes he can open an account with any Bank in India. 2. if the person is on a personal/tourist trip to India and will not be earning any income during his stay here in India then - No, he cannot open an account with any Bank in India.
What is the full form of PAN in PAN India?
PAN "Presence Across Nation", A company or business that does business with customer across India (East, West, South & North) is called PAN India company.
How can a Foreign company open a Bank account in India?
if they have a branch in Indian
Which is more industrialized India or Greece?
Greece has a high-income economy compared to India which has a low income ecoonomy according to this site: http://faculty.philau.edu/RussowL/lists.html
Who mandates Bookkeeping and Accounting Services?
Every company or organization doing business in India must follow statutory regulatory standards, which include maintaining books of accounts. According to Section 128 of the Companies Act of 2013, every company, including a private limited company, a public limited company, and a one-person company, is required to keep accurate Company Books of Account. According to Section 34 of the LLP Act 2008, limited liability partnerships [LLPs] are required to keep accurate books of account and statements of account and solvency relevant to their business operations. According to Section 44AA of the Income Tax Act, every business (including sole proprietorships and partnerships) is required to keep proper books of account if their income exceeds INR 1,20,000/- (one lakh twenty thousand rupees) OR their total sales, turnover, or gross receipts exceed INR 10,00,000/- (ten lakh rupees) in any of the 3 years immediately preceding the previous year. Every professional engaged in the legal, medical, engineering, or architectural professions, or the professions of accountancy, technical consultancy, interior decoration, or any other profession, must keep and maintain such books of account in order to compute his total income for income tax return filing.
How get registration number of company secretaries from institute of company secretaries of INDIA?
How to make an account foe c.s executive
Can American citizen open bank account in ICICI Bank?
It depends:If the person is on an official trip to India and will be earning an income while his stay in India then - Yes he can open an account with ICICI Bank in India.if the person is on a personal/tourist trip to India and will not be earning any income during his stay here in India then - No, he cannot open an account with ICICI Bank in India.A point to note is that: If the American citizen visits an ICICI Bank branch in USA, he will be more than welcome to open an account.
Can you open the RBI current account for company?
RBI Stands for Reserve Bank of India. RBI is the central bank of India and they supervise the banking operations in the country. They do not provide banking accounts to individuals or company's So, the answer to your question is - No, you cannot open a current account for your company at RBI.
Can an American open an Italian bank account?
It depends:if the person is on a official trip to Italy and will be earning an income while his stay in India then - Yes he can open an account with any Bank in Italy.if the person is on a personal/tourist trip to Italy and will not be earning any income during his stay here in India then - No, he cannot open an account with any Bank in Italy.
Most reliable pharmacy company in India?
Ranbaxy is the most reliable company in India according to the 2009's survey. It is also India's largest pharmaceutical industry.
Where can one purchase MTS internet?
MTS internet is an internet company based in India. You can visit the MTS India website and pay with a prepaid account, or a postpaid account. You can also view your current balance.
How do you do export and import business from India?
You have to have a company in India which should have a reg. office. This will make you eligible for applying for IMPORT/EXPORT license. A current bank account is also required along with company details.
