Section 137: Books of traders

137. Books of traders (1) (a) The books which a trader is bound to keep under the Income Tax Act shall be numbered and initialled (côtés et paraphés) and visaed every year in the usual form and free of costs, in Port Louis by the Master, or by any of the District Magistrates of Port Louis, and in any district, other than Port Louis, by the Magistrate of such district. (b) Such books may be numbered and initialled (côtés et paraphés) by any officer or officers of the Registry or any clerk or clerks of the District Court deputed in writing to that effect by the Master or the Magistrate, as the case may be. (2) Traders shall be bound to keep these books for 5 years. (3) No new book shall be issued until the book previously issued has been produced to, and closed, with a mention of the number of pages actually used at the time of closing, by the Master, or a District Magistrate as provided in subsection (1). (4) Any trader keeping or using any book, or otherwise acting in contravention of this section, shall commit an offence and shall, on conviction, be liable to a fine not exceeding 1,000 rupees. (5) Bankers carrying on the trade of banking only shall be exempted from this section.