Books of account to be kept and maintained under rule 17AA of Income Tax Rule, 1962
The rule 17AA has been inserted in Income Tax Rule, 1962 by GSR 622(E) dated 10-Aug-2022. As per the new rule, the following books of account to be kept and maintained by associations registered u/s 12A(1) or 10(23C):
- Cash Book,
- Ledger,
- Journal,
- Copies of bills & money receipts issued,
- Original bills & money receipts against payment made, and
- Any other book that may require to be maintained in order to give a true and fair view of the state of the affairs.