01 December 2013
Like Companies Act, Income Tax Act has not prescribed directly for such register- but indirectly it has been provided in Section 44AA that . " the assessee has to keep and maintain such books of account and other documents as may enable the AO to compute his total income..... " . So, if you can provide the required particulars of assets and depreciation thereon -in the case of a non-company assessee- it is sufficient. . In case of a company your Auditor also takes care for the FAR and it is required to be maintained. .
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