Method of Accounting and Records Chapter- 11
the description, quantity and, value of goods sold;
where a single transaction exceeds Rs. 10,000 with the name and address of the customer;
Cash book and / or bank book;
Sales day book and sales ledger (where applicable);
Purchases day book and purchase ledger (where applicable);
General ledger;
Vouchers of purchases and expenses and where a single transaction exceeds Rs. 10,000 with the
name and address of the payee; and
Stock register of stock-in-trade (major raw materials and finished goods) supported by gate in-ward
and outward records and quarterly inventory of all items of stock-in-trade including work-in-process
showing description, quantity and value.- Electronic tax register (ETR) [Rule 30A]
A person required to use an ETR shall -
Install the ETR within 7 days of its authentication by CIR holding jurisdiction over such case and
obtain a register identification number (RIN) for permanent affixture on the ETR;
Use the ETR to record only his own sales and ensure that each sale is made through it and print the
receipt of each safe containing the information in accordance with sub-rules(3) and (4) of rule 29 and
rule 30, and to deliver the original receipt to the purchaser;
In case of non-availability for use of the ETR, the safes may be recorded with the use of a substitute
ETR, duly authenticated by the CIR;
Prepare a daily and a monthly Accounting report containing the information as prescribed in these
rules;
Ensure that the ETR operates correctly with particular regard to correct programming of the names of
goods and services and the correct allocation of their tax rates;
Promptly report any malfunctioning of the ETR to the person responsible for its servicing;
On demand by an authorized person, produce the ETR for inspection;
Ensure the inspection of the ETR before the authorized service management after 6 months;
Keep copies of ETR reports for a period of 5 years and produce the same for inspection by the CIR
whenever required to do so;
Safely keep the ETR ledger in the ETR casing and produce it whenever required by the CIR to do so;
and
Ensure the inspection before further use of an ETR which has been or is suspected to have been
interfered or tempered with.- Non business taxpayers [Rule 31]
S. # Head of Income Record to be kept by the taxpayer
1. Income from salary a) Salary certificate indicating the amount of salary
and tax deducted there from.
2. Income from property a) Tenancy agreement, if executed;
b) Tenancy termination agreement, if executed;
c) Receipt for amount of rent received; and
d) Evidence of deductions claimed in respect of
premium paid to insure the building, local rate,
tax, charge or cess, ground rent, profit / interest
or share in rent on money borrowed, expenditure
on collecting the rent, legal services and unpaid
rent.