Financial Year-End IT Disposal, With the Paperwork Done.
Retire old IT before the books close on 31 March, so finance can update the asset register and the auditors find every document in one file.
Indian companies close their financial year on 31 March. Retiring old IT before then means the fixed asset register, the disposal documents and the sale proceeds land in the same year. Start in January: agree the disposal list with finance, get an itemised quotation, collect payment before pickup, and file the manifest, certificates and invoice together.
We provide the documents. Accounting and tax treatment stays with your accountant.
Work back from 31 March.
| When | What to do | Who |
|---|---|---|
| Early January | Pull the list of retired and idle IT from the asset register | IT and finance |
| Mid January | Ask for an assessment and itemised quotation | IT or admin |
| Late January | Approve the disposal list and the quotation | Finance and management |
| February | Data destruction and pickup, with payment before pickup | PrivAce |
| By early March | Collect the manifest, certificates and invoice | Finance |
| Before 31 March | Update the fixed asset register and close the file | Finance |
What finance and audit get out of it.
Physical verification. Statutory auditors report on whether fixed assets have been physically verified, so equipment sitting in a storeroom is easier to explain once it has a documented exit.
One file. Ask for the documents to be labelled with your asset register IDs or cost centres. It saves finance a week of matching in March.
Budget timing. Recovered value from a buyback in February sits in this year. The same equipment in May is a year older and worth less.
Questions, answered.
Indian companies close their books on 31 March. Retiring equipment before the year end lets finance remove it from the fixed asset register in the same year, with the disposal documents ready for the auditors.
Usually an approved disposal list, the handover manifest from pickup, the sale invoice or settlement for anything bought back, and the recycling certificate. Your accountant decides the accounting treatment.
In January. February and March are crowded with audits and budget closures, and pickups booked in the last week of March leave no time to chase documents.
No. We provide the documents. Write-off, depreciation and GST questions belong with your accountant or auditor.
Last reviewed 20 October 2026.
Closing the books with a storeroom full of old IT?
Send the list. We reply within 1 to 2 working hours.
