For how long should the record of transactions be retained?
Updated
The records referred to in clause (a) of sub-section (1) of Section 12 shall be maintained for a period of five years from the date of transaction between a client and the reporting entity. The records referred to in clause (e) of sub-section (1) of Section 12 shall be maintained for a period of five years after the business relationship between a client and the reporting entity has ended or the account has been closed, whichever is later.
