The books of accounts of every company relating to a period of not less than eight years immediately preceding the current year [together with the vouchers relevant to any entry in such books of account] shall be preserve in good order.
Provided that in the case of a company incorporated less than eight years before the current year, the books of account for the entire period preceding the current year[together with the vouchers relevant to any entry in such books of account] shall be so preserved.
28 October 2012
You have to keep all the Books of Accounts beyond eight years also. However, Sales Bills, Purchases Bills and other vouchers may be destroyed.
Mr Anurag, Sunil and Bafna has answered clearly and correctly.
It is a matter of convenience if books beyond 8 yrs are kept. My experience says keep the books and other documents to the extent you can keep without considering the limitation of Law of 8 yrs. Many times old record helps.
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