Books or books of accounts

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..... Books or books of accounts
Query (Issue) Started By: - DEV KUMAR KOTHARI Dated:- 3-11-2009 Last Reply Date:- 9-11-2009 Income Tax
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Income Tax
From Income-tax Act 1961 Definitions. 2. In this Act, unless the context otherwise requires,-- xxxx [(12A) "books or books of account" includes ledgers, day-books, cash books, account-books and other books, whether kept in the written .....

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..... form or as printouts of data stored in a floppy, disc, tape or any other form of electro-magnetic data storage device;] From the above definition it can be construed that soft copies or data stored in computer etc. are not books or books of account. Only print outs can be considered as books or books of account. This is from use of words "whether kept in the written form or as printouts of data . .....

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..... .." Readers views are invited. From government- If such an interpretation is not intended, then there should be a suitable amendment as soon as possible and not after the courts so decide. Reply By Mukesh Kumar: The Reply: Section 4 of Information Technology Act, 2000 which is overriding provision states that, "4. Legal recognition of electronic records.- Where any law provides that information o .....

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..... r any other matter shall be in writing or in the typewritten or printed form, then, notwithstanding anything contained in such law, such requirement shall be deemed to have been satisfied if such information or matter is- (a) rendered or made available in an electronic form; and (b) accessible so as to be usable for a subsequent reference."
Discussion Forum - Knowledge Sharing .....

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