Keeping tax records ensures smooth handling of notices, easier loan/visa approvals, claiming refunds, and legal protection.
This infographic highlights why maintaining tax records is crucial for financial security. Tax documents serve as proof of income and compliance, help resolve tax notices efficiently, and are required for loan and visa applications. Proper records enable claiming refunds and adjusting losses in future filings. For businesses and individuals, organized tax records provide legal protection and clarity in case of disputes with tax authorities or ownership issues.