24.   Retention of record and documents for [1][five] years.-

        A person who is required to maintain any record or documents under this Act, shall retain the record and documents for a period of [2][five] years after the end of the tax period to which such record or documents relate.

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[1]. “three” substituted vide Finance Act, 2007.

[2]. “three” substituted vide Finance Act, 2007.