FAQs on Accounts

Q. How sooner or early is the accounts and bookkeeping part need to be arranged and confirmed?

By Agam Gupta 30 Mar 2016

The best way to do the accounting in a company is to do accounting on Accrual basis that means whatever income you have earned or whatever expenditure you have expended should be recorded in the books at the time of happening of the event not at the time of actual monetary transaction happens.

Tags ACCOUNTING BOOK KEEPING ACCOUNTS COMPANY

Q. Is there any penalty associated if I do not maintain accounts properly?

By Agam Gupta 30 Mar 2016

It is like a chain, if you don’t maintain proper books, Chartered Accountant will give you a disclaimer, based on that government will not trust your books, and hence, they will be compelled to calculate the tax, Interest and penalty according to their wish.

Tags ACCOUNTS PENALTY COMPANY