pratik upadhyay (AUDIT COMPLIANCE OFFICER) (469 Points)
01 December 2013Dear All,
Is there any provision for maintenance of fixed asset register under income tax act.
Vimal Dodhia
(student)
(49 Points)
Replied 04 December 2013
Under income tax act there is no provision of maintained fixed assets register..But if tax audit is applicable to u then u have to maintain books of accounts according to section 44AA of the income tax act.
If CARO is applicable then u have to mainained FIXED ASSETS REGISTER. under company act.
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