Income Tax Act, 1962 (Act 58 of 1962)
Chapter III: General Provisions
Part VI: Miscellaneous
(1) The Minister of Finance may make regulations—
|(a)||prescribing the duties of all persons engaged or employed in the administration of this Act;|
|(b)||defining the limits of areas within which such persons are to act;|
|(c)||prescribing the nature and contents of the accounts to be rendered by any taxpayer in support of any returns rendered under this Act and the manner in which such accounts shall be authenticated;|
|(d)||prescribing the method of valuation of annuities or of fiduciary, usufructuary or other limited interests in property referred to in section 62;|
|(dA)||[para (dA) deleted by s.29 of Act No 21 of 1994];|
|(e)||[deleted by Second Revenue Laws Amendment Act, No. 60 of 2001],|
|(f)||[deleted by the Revenue Laws Amendment Act, 74 of 2002].|
and generally for giving effect to the objects and purposes of this Act.
(2) The regulations may prescribe penalties for any contravention thereof or failure to comply therewith, not exceeding a fine of R2 000.
|(3)||Any regulation made under the Income Tax Act, 1941, and in force at the date of commencement of this Act, shall be deemed to have been made under this Act.|
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