undrr section 209 of companies act,1988,all companies are to maintain the books of accounts on which basis?
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Explanation:
209. Books of account to be kept by company. 1
(1) Every company shall keep at its registered office proper books of account with respect to-
(a) all sums of money received and expended by the company and the matters in respect of which the receipt and expenditure take place;
(b) all sales and purchases of goods by the company; 2
(c) the assets and liabilities of the company; 3 and]
(d) 3 in the case of a company pertaining to any class of companies engaged in production, processing, manufacturing or mining activities, such particulars relating to utilisation of material or labour or to other items of cost as may be prescribed, if such class of companies is required by the Central Government to include such particulars in the books of Account:] Provided that all or any of the books of account aforesaid may be kept at such other place in India as the Board of directors may decide and when the Board of directors so decides, the company shall, within seven days of the decision, file with the Registrar a notice in writing giving the full address of that other place.]
(2) Where a company has a branch office, whether in or outside India, the company shall be deemed to have complied with the provisions of sub- section (1), if proper books of account relating to the