Need A Financial Product Forums Tax Savings What all records to be maintained for local body tax?

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    Vasant Shah
    Member

    What all records to be maintained for local body tax?

    #47319

    Rahul Batra
    Member

    In the words of local body taxes, every dealer or importer has to maintain true accounts of the value of the products and goods imported, purchased, consumed or sold by them as prescribed. The dealer or importer also required to keep in his record the duplicate or a counterfoil of the bill or invoice issued in respect of imported products. Further under the rule 19 o9f the provision of local body tax rules that the every dealer or importer has to maintain a register of purchases and receipts of the good on the basis of transfer in form D for each and every place of business. These records are required to be maintaining for the minimum period of years.

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