How Long Should We Keep Our Books Secure According to Income Tax Rules?

amtgup
Dear Friends,

As per income tax regulations, how long are we required to keep the books of accounts secure?

Regards,
Amit
Glidor
Where no case or demand is pending, it is 6 years after the close of the previous accounting year.
amtgup
Sir, whether such rules are defined in the Companies Act? Also, if so, what will be the rules in respect of keeping books safely.
Glidor
Rule 6F(5) provides that the books of accounts and other documents are to be kept for at least 6 years from the end of the relevant assessment year.
Glidor
On one side, you post a query under the income tax; on the other side, you comment on the company act. As per the EPF Act, books of accounts and master roll/wages records are to be kept since inception, irrespective of the number of years.
Glidor
As per the Companies Act Rule 3 of 2014, books are to be kept for 8 years since the last close of the financial year.
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