Tip Tuesdays: Before You Submit Your Proofs of Investment or Expense for Income Tax Savings, Make a Photocopy of All Your Receipts

by Vinaya HS on January 20, 2009

in Finance

I completely forgot to do this, but you shouldn’t.

It’s a good habit to take a photocopy of all the receipts and documents that you are going to submit at your company as proofs of investment or expense for income tax savings. It’s one extra step, but worth it because:

  • In case something goes wrong and your original receipts are lost, you have a ready backup.
  • It’s good to have a complete set of receipts filed away along with your income tax returns.

Don’t make the mistake that I did. Make a photocopy before you submit.

Tip Tuesdays is my initiative to share practical personal finance tips — every Tuesday. I’d be delighted if you could share a tip or two from your own experiences. Drop a comment to submit your tip. And, as always, do spread the word if you find this useful.

Further reading:

  1. Tip Tuesdays: How to Close Your HDFC Bank Savings Account?

{ 3 comments… read them below or add one }

1 Girish 01.20.09 at 10:13 pm

Well Said…..
Normally when submitting any documents to government organisations,
tax submission, any type of bill submissions, we need to
have a copy…
Regards,
Girish

2 elementaryfinance 01.21.09 at 12:20 am

I wrote an article on my blog about real world ways to fund your savings account with money you didn’t think you had. I linked to it above if anybody is interested.

Great work on your article and site!

3 Alexwebmaster 03.03.09 at 4:24 pm

Hello webmaster
I would like to share with you a link to your site
write me here preonrelt@mail.ru

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