krishnakumar (Financial controller) (25 Points)
16 November 2009As per companies act, books of accounts have to be kept for atleast 8 yearrs
I have two questions now :
In case any company under rigorous re assessments, can you en light this requirement from the point of view of reassessments and is reassessment requires complete book of accounts?
Secondly What are the remedies available for the company which lost their books in fire or any natural calamities?
praveen
(Chartered Accountant)
(6971 Points)
Replied 17 November 2009
you have to rebuild your accounts based on the information available. like bank statements, debtors ledger confirmations, VAT reports etc.
I think only time might be provided under such circumstances.
CAclubindia
