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Indian businesses must keep many records for years: companies keep books of account for at least 8 financial years, and GST records are kept for 72 months from the due date of the annual return, longer if proceedings are pending. Build a written retention schedule, confirm periods with your CA, keep current files in the office and move older files to storage packed by year, with an index and destruction dates. Self Storage India offers private, lockable rooms with 24/7 CCTV, regular pest control, monthly plans with no lock-in and a GST invoice.
- Why does a business need a record retention plan?
- How long do common business records need to be kept?
- How do you build a retention schedule?
- Which records stay in the office and which go to storage?
- How should archived records be packed?
- How do you find a record later?
- What happens at the end of the retention period?
- Should records be digitised too?
- How secure is a storage room for business records?
- How much does record storage cost?
- Where can businesses store records in Delhi NCR?
- Record retention checklist
- FAQs
- Sources and notes
Every business in India builds up paper: books of account, invoices, GST returns, contracts, payroll records and board papers. Indian laws set minimum periods for keeping many of these records, and some periods run for years. Keeping all of it in the office takes up desks and cupboards that the team needs for current work, but throwing records away too early can cause problems in an audit, a tax assessment or a dispute. A clear retention plan, with older files moved to a private storage room, solves both problems. This guide explains how to build a record retention plan for your business and how to store archived files so you can find them when you need them.
Why does a business need a record retention plan?
- Laws set minimum periods. Company law, GST and tax rules require many records to be kept for years.
- Audits and assessments look back. Auditors and tax officers may ask for records from earlier years.
- Disputes need evidence. Contracts and correspondence may be needed long after a deal ends.
- Office space is expensive. Old files in cupboards take space the team could use.
- Clear rules save time. Without a plan, nobody knows what can be destroyed, so everything is kept.
How long do common business records need to be kept?
The table below gives a general picture for common records. Periods depend on your type of business, the law that applies and whether any assessment, audit, appeal or case is pending, which can extend them. Always confirm your own periods with your chartered accountant or legal adviser.
| Record | General guidance | Confirm with |
|---|---|---|
| Books of account and vouchers (companies) | At least 8 financial years under the Companies Act, 2013 | Your CA or company secretary |
| GST accounts, invoices and records | 72 months from the due date of the annual return for that year, longer if proceedings are pending | Your CA |
| Income tax records | Periods set by income tax rules; longer if an assessment is open | Your CA |
| Statutory registers and minutes (companies) | Many must be kept permanently or for long periods | Your company secretary |
| Payroll, PF and ESI records | Periods set by labour laws and schemes | Your HR or payroll adviser |
| Contracts, leases and agreements | For the contract term plus the period in which a claim could be made | Your legal adviser |
For sector-specific advice, read our guides to record storage for law and CA firms and clinic record storage.
How do you build a retention schedule?
List every type of record your business creates, department by department. Against each, note who owns it, the legal or business reason for keeping it, the retention period your adviser confirms and what happens at the end of the period: destroy, review or keep permanently. Put the schedule in a simple spreadsheet and have it signed off by a director or partner. Review it once a year, and whenever laws change or the business starts a new activity.
Which records stay in the office and which go to storage?
Split records into three tiers. Current-year files that the team uses daily stay in the office. Files from the last year or two, which are used now and then, can stay in the office or go to the front of the storage room. Older files kept only to meet retention periods go to the back of the storage room, packed by year. Original title deeds, share certificates and other key originals should be kept with the directors, in a bank locker or with your adviser, rather than in general archive boxes.
How should archived records be packed?
Use strong archive boxes of the same size, so they stack evenly. Pack one year and one record type per box where possible. Remove plastic sleeves, which can trap moisture, and rusty clips. Don't overfill boxes, or they will split. On the outside, write the box number, record type, financial year and destruction date from your schedule, using codes rather than client names. Keep boxes on shelves or pallets, never on the floor. See our guide on storing documents in self storage.
How do you find a record later?
An archive is only useful if you can find a file quickly. Keep an index listing the box number, record type, year, description and shelf location. Store the index on your own system with a backup. When someone takes a box out, record who took it, when and why, and check it back in on return. A clear index also makes it simple to pull every box due for destruction each year. Our guide on organising document storage has more ideas.
What happens at the end of the retention period?
Once a year, pull every box that has reached its destruction date. Have the record owner check that no audit, assessment, case or other hold applies, and get sign-off before anything is destroyed. Destroy confidential papers by shredding through a reliable vendor and keep a certificate or a simple log of what was destroyed and when. Never put confidential records out with ordinary waste paper.
Should records be digitised too?
Scanning records makes them easier to search and share, and a digital copy protects you if a paper file is damaged. But some laws require original records or specific electronic formats, so check with your adviser before relying only on scans. Many businesses scan frequently used records and keep the originals in storage for the full retention period.
How secure is a storage room for business records?
With a private, lockable room, you use your own padlock and keep the only key. The facility has 24/7 CCTV and regular pest control, which matters for paper. Limit who holds the key, keep the visit log and use codes on boxes rather than names. Confirm the facility's operating hours and access arrangements with the team before planning retrieval visits. Read security for business storage.
How much does record storage cost?
Pricing depends on the room size and location you choose. Plans are monthly with no lock-in, and a yearly clear-out of expired boxes keeps the space you need under control. Business customers can get a GST invoice. Pickup, packing and transport can be arranged through partners at an additional cost. Use the storage calculator or call +91-9090206090 for a quote.
Where can businesses store records in Delhi NCR?
Self Storage India serves Noida, Delhi and Gurugram. Choose the location closest to your office, so retrieval visits during an audit take less time.
Record retention checklist
- List every record type your business creates
- Confirm retention periods with your CA or adviser
- Put the schedule in writing and get it signed off
- Keep current files in the office, older files in storage
- Keep key originals with directors or in a bank locker
- Pack one year and one record type per box
- Mark boxes with codes and a destruction date
- Keep an index with box locations
- Log every box taken out and returned
- Check for holds before destroying anything
- Shred confidential papers through a reliable vendor
- Review the schedule once a year
Disclaimer: this article gives general information and is not legal or tax advice. Retention periods depend on your business and can change or be extended. Confirm the periods that apply to you with your chartered accountant or legal adviser.
For GST papers specifically, see how to organise GST and accounts paperwork.
For employee records, read archiving HR and employee files safely.
Not sure what to shred? Read shredding vs storing business papers.
Frequently Asked Questions
At least 8 financial years under the Companies Act, 2013. Confirm with your CA.
72 months from the due date of the annual return for that year, longer if proceedings are pending.
Only after checking no audit, assessment or case is pending, and with sign-off.
Not always. Some laws require originals, so check with your adviser.
Yes. Business customers can get a GST invoice.
Self Storage India serves Noida, Delhi and Gurugram.
Sources and notes
Checked 1 Nov 2026.
- Books of account: Companies Act, 2013, section 128(5).
- GST records: CGST Act, 2017, section 36.
- Unit features, plans and GST invoice: Self Storage India home page.
