Clients Accounts
s.v.goplani
(Querist) 27 January 2010
This query is : Resolved
Dear sir,
Can i answerable for my clients accounts maintained & kept to my office & resident ? Any authority can ask me why i am keeping books of clients ? please advice how to answer & and any remedise.( i am income tax/ vat consulatant having some accounts and books of cliets with me). kindly guide me. Thanks
A V Vishal
(Expert) 27 January 2010
Yes Mr Goplani, Technically the client is required to maintain the records at the registered office of his firm/company/business and at such places as may be permitted under law 9 For Example Branch/Corporate office. Only for the purpose of accounting, auditing, filing or representation of the client before any statutory authority under law you can keep the books under your custody for a reasonable period of time, after which the client is required to maintain the same at his office.
Kumar Thadhani
(Expert) 28 January 2010
-Under the Incometax MVAT LAWS the books, all documents and invoices and all supporting evidences relating to the books to accounts which are ordinarily maintained are required to be kept at registered office of the firm or corporate office while preparation books of accounts 'for filing returns 'for auditing purposes and for reprentation purposes before Incometax & MVAT authorities you can retain these books &all documentary evidences and all also you have right to lien over them till your professional charges arepaid in full.
