Record Keeping
This query is : Resolved
17 May 2010
Hi Sir,
We intend to destroy the documents related old fiscal year say year ended 31st March 2000 and earlier.Will there be any issue with this from Tax and legal perspective.Can you please suggest what are the Legal guidelines regarding this.
Thanks& Regards,
Surya
We intend to destroy the documents related old fiscal year say year ended 31st March 2000 and earlier.Will there be any issue with this from Tax and legal perspective.Can you please suggest what are the Legal guidelines regarding this.
Thanks& Regards,
Surya
17 May 2010
You can destroy records which are older than 8 years. However, the statutory books and share records have to be maintained throughout the life of the Company.
It is also better to keep a record/list of the records destroyed.
It is also better to keep a record/list of the records destroyed.
17 May 2010
Thank you Rasesh.Can u please tell us what is the provision under IT Act and Labour Law for the same?
Regards,
Surya
Regards,
Surya
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