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Maintenance of Books of Accounts 

Section 44AA and Rule 6F of the Income Tax Act prescribe the books of accounts to be maintained by the taxpayers for the purpose of Income Tax i.e. Cash Book, Bank Account, Journal, Ledgers, Record of Assets and Liabilities, Payment/ Expenses Bills, Records of Purchases and Sales etc.

Under Companies Act-

Every company has to maintain books of accounts, at the registered office or any office that board of directors may decide. Books should be maintained for a period of 8 years from the end of the relevant financial year.

Under GST Act-

Every registered person (other than person registered under composition scheme) shall maintain the accounts of stock in respect of goods received and supplied by him amount of advance received, paid and adjusted.

 


There are various accounts to be maintained by a registered taxpayer under GST, such as-
  • Sales Account
  • Purchase Account
  • Stock Account
  • Electronic Cash Ledger
  • Electronic Credit Ledger
  • Input CGST Account
  • Output CGST Account
  • Input SGST Account
  • Output SGST Account
  • Input IGST Account
  • Output IGST Account

Every registered person has to maintain GST records at the principal place of business. It has required self-assessing the taxes payable and furnishing a return for specified tax periods i.e. the period for which return is required to be filed. This requires keeping and maintaining proper books of accounts.

 

Our rates are for Maintenance of books of accounts-

Starting Rs. 1,000 per month onwards (subject to the daily transactions and type of work)



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