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 â€” 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.