Every CA firm generates and handles a massive amount of data: invoices, audit reports, TDS filings, agreements, bank statements, and much more. But when it comes to how long these records should be stored, many practitioners rely on guesswork or default habits like “keep everything forever” or “clean up yearly.”
In reality, document retention is governed by specific laws like the Income Tax Act, GST Act, Companies Act, and professional guidance from ICAI. Failing to comply can lead to penalties—or worse, lack of documentation when faced with scrutiny or reassessment.