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Question
The books of account of a company are required to be preserved for at least _________.
The books of account of a company are required to be preserved for at least _________.
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Solution
The correct option is B 8 years
As
per section 128(5) of companies act, 2013 requires every company to preserve
its books of accounts, together with vouchers relevant to any entry in such
books for a period of not less than eight years immediately preceding the
relevant financial year and if a company incorporated less than eight years then
for the entire period. In the case of investigation the Central Government may
direct that the books of account may be kept for such period longer than 8
years, as it may deem fit and give directions to that effect.
As per section 128(5) of companies act, 2013 requires every company to preserve its books of accounts, together with vouchers relevant to any entry in such books for a period of not less than eight years immediately preceding the relevant financial year and if a company incorporated less than eight years then for the entire period. In the case of investigation the Central Government may direct that the books of account may be kept for such period longer than 8 years, as it may deem fit and give directions to that effect.
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