Accounting is the process of making and keeping the work of the Financial accounts of a company. Every company is bound to maintain their Books of accounts and to communicate their Books of Accounts or their Financial health to the interested parties. It is a way of assessing the cash flow, assets, liabilities, and the future of the entity for current and future investors. Accounting is the process of maintaining, storing, and recording financial transactions, it is mandatory for every company to maintain their books of Accounts to the Income Tax Department and to file their Income Tax Return with the Ministry of Corporate Affairs. Although maintaining the book in house accounts is tedious and quite expensive affair, but getting it done will reduce the pain in complying with the requirement of Income Tax Department. By doing all these things it increases the eligibility of the Company which helps them in taking loan later, as Keeping Books of accounts and filing regularly income tax with the Income Tax Department, it shows the efficiency of the company and they also satisfy their investors.