Manner of Books of Account to be Kept in Electronic Mode

[former_member805463]

Hi

Regarding India accounts to be kept in electronic mode, requirement discussed last week, received below quires from the customer.

1. When looked at Note2276890,

In the case of Public Cloud, since the server is outside India (the sales company Shared is in the Netherlands), it can be handled by using Customer return service.

In that case, it says that "data is provided in .zip and can be viewed in xml or csv format".

Is it now possible to respond to requests from Audit (= legally compliant)?

The image is that "Hitachi India finance members output and submit forms and reports for the relevant period in response to requests from Audit," but I feel that it is difficult to do this with xml or csv.

2. Chapter 5 of another law, “128. Books of Account, etc., to be kept by Company” (please refer to the attached PDF downloaded from MCA), states that “data must be retained for eight accounting periods.”

Does that require an On-Premise server in India?

3. Instead of No. 2, would it be possible to use Public Cloud + Customer return service as in No. 1 (= legally compliant)?

Can you please advise for above if possible.

[Yong_Yu]

Hello Pradeep,

As these are mainly consulting issues, to better support customer, please also align with Services Consultant to provide professional service to these questions.

For question 2, from my understanding, as all the returned data are in files, you can just keep these files on local file server(not OP instance).

Best regards,

Yong