DIGITAL RECORD

[pradip patwardhan]

Dear all,

My query is regarding keeping records for the income tax and other indirect taxes. Now days we all are promoting about using e-paper, e-invoices to save a paper (to save the trees) but same time we need to keep records of business for long time for the department scrutiny, audit purpose. But instead of physical records we can keep some business related invoices or papers in format of soft copies and we can make it available in future while govt. scrutiny and other purpose. Now we see that in case of airline and railway traveling the railway and Airlines also allow soft copy of e-tickets then we don’t need to take a print out and can keep it in future for business traveling expenses purpose. So doubt is can we keep the records (which are not mandatory to print) in digital format (soft copy) instead of physical to minimize the records size and indirectly to save papers?? Please throw some lights on this issue with your expert opinions.

Regards,

Pradip patwardhan

[DR.MARIAPPAN GOVINDARAJAN]

Dear Sir,

Yes, you can maintain digital records.

M. Govindarajan

AI Summary

Digital records accepted for tax purposes; electronic copies may be maintained in lieu of printed business records for audits. Taxpayers may maintain digital records, including electronic invoices and e tickets, in place of printed paper for Income Tax and indirect tax purposes, provided such electronic evidence is accessible and producible for departmental scrutiny and audits.