Is it compulsory to pring books of account

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

02 December 2009 Dear Sir/Madam
We are maintaining books of accounts of our compnay on computer system.
i want to know whether it is compuslory to print books of accounts and get closing balances signed by auditor. kindly give reference of relevent provisions.

Thank you

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

02 December 2009 Section 2(12A) of the Income tax Act,1961 permits to maintain books of accounts using computer system. Keeping printouts signed by Auditors is an accepted practice as part of good governance.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
Follow

02 December 2009 agree

Upgrade to CAclubindia Pro. Subscribe Now!

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
Follow

02 December 2009 agree

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
Follow

02 December 2009 Agree

Querist : Anonymous

Querist : Anonymous (Querist)

05 December 2009 Dear Sir,
Thank you for Reply. but your reply is not Specific. You have not mentiined position under companies act. You say it is healthy practice but it is compulsury under companies act or not?
Kinldy clearify furhter.