In this guide
Short answer: Indian companies generally keep books of account and vouchers for 8 financial years (Companies Act, Sec. 128), GST records until 72 months from the annual return due date (CGST Act, Sec. 36), and income-tax books for about 6 years from the end of the relevant assessment year. Minutes of meetings are preserved permanently. Records linked to pending assessments, appeals or litigation must be kept until those are resolved.
Finance and admin teams in Gurgaon tend to discover retention rules in one of two ways: an auditor asks for a voucher from six years ago, or the office runs out of cupboard space. This guide helps with both.
This is a general summary, not legal advice. Confirm your schedule with your CA or company secretary.
A simple retention schedule
| Record | General minimum period | Source |
|---|---|---|
| Books of account and vouchers | 8 financial years | Companies Act, 2013, Sec. 128(5) |
| GST accounts and records | 72 months from the annual return due date | CGST Act, 2017, Sec. 36 |
| Income-tax books and documents (where required) | Generally 6 years from the end of the relevant assessment year | Income-tax Rules, Rule 6F |
| Minutes of board and general meetings | Permanently | Secretarial Standards |
| Statutory registers | Several must be kept permanently; check each one | Companies Act and rules |
| Payroll and employee records | Varies by law; many firms keep at least 8 years | Labour laws and books of account |
| Contracts and agreements | Life of the contract plus the limitation period | Check with your legal team |
The big exception: if an assessment, audit, appeal, investigation or lawsuit is open for a year, keep everything for that year until it is fully closed, however old it is.
Paper still matters
Most companies now keep accounts in software, and the Companies Act allows electronic books of account, subject to rules that include a daily backup on servers located in India. But paper does not disappear:
- Signed contracts, board resolutions and agreements
- Original vouchers, bills and supporting documents
- Statutory registers kept physically
- Records from years before the company digitised
- Files from closed or merged branches
That paper has to live somewhere safe, dry and organised for years.
How to organise archives so you can find things
- One carton, one year, one type. Do not mix GST working files with HR files in the same carton.
- Number every carton and write the year, department and a short description on two sides.
- Write a destroy-after year on each carton, based on your retention schedule.
- Keep a master index, a simple spreadsheet with carton number, contents, year and destroy-after year.
- Review once a year. Cartons past their destroy-after date (with no pending matters) can be securely disposed of, and your storage volume drops.
Where to keep archives
In the office: convenient, but expensive. Office space in Gurgaon is charged by the square foot, and a row of filing cupboards takes space that could seat people. Basements and pantries are often damp.
At an employee’s home or a godown: cheap but risky. There is no access control, no pest management and no record of who opened what.
With an off-site storage provider: sealed, labelled cartons in a monitored warehouse, retrieved when you need a specific one. You pay for the volume you store, and the cost often falls as old cartons are cleared.
Retrieval: plan for the auditor’s request
When an auditor or tax officer asks for a document, you need to find the right carton quickly. With a good index and numbered cartons, retrieval becomes a simple request: “Cartons 112 and 113, please.” That is how our document storage service works: your team keeps the index, we keep the cartons sealed and logged, and we deliver the ones you ask for to your office.
More questions about record retention
How many years should books of account be kept in India?
Under Section 128(5) of the Companies Act, 2013, a company must keep its books of account and relevant vouchers for at least eight financial years immediately preceding the current year.
How long must GST records be kept?
Under Section 36 of the CGST Act, 2017, generally until 72 months from the due date of the annual return for the year, and longer if an appeal or proceeding is pending.
Can records be kept electronically instead of on paper?
The Companies Act allows books of account to be kept in electronic form, subject to the rules, which include keeping a daily backup on servers physically located in India. Many companies still keep original paper vouchers and signed documents, which need physical storage.
Is this legal advice?
No. Retention periods depend on your company, industry and any pending assessments or disputes. Confirm your schedule with your CA or company secretary.
