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Income Tax Act, 1962 (Act 58 of 1962)

Chapter III: General Provisions

Part I: Returns

73A. Record keeping by persons who render returns (Repealed)



[Repealed by the Tax Administration Act, 2011 (Act No. 28 of 2011)].


1) A person who is required to render a return or who is not so required but has rendered a return must retain all records relevant to that return for a period of five years from the date upon which the return relevant to the last entry in those records was received by the Commissioner.


2) For the purposes of subsection (1) ‘records’ include—
a) ledgers, cash books, journals, cheque books, bank statements, deposit slips, paid cheques, invoices and stock lists and all other books of account; and
b) any electronic representations of information in any form.

relating to any trade carried on by that person in which are recorded the details from which that person’s returns for the assessment of taxes under this Act were prepared.


3) The records contemplated in subsection (1) must be retained in such form, including any electronic form, as may be prescribed by the Commissioner.