This Act may be cited as the Income Tax Act and shall subject to the Sixth Schedule, come into operation on 1st January, 1974, and apply to assessments for the year of income 1974 and subsequent years of income. (1A)     Where under the provisions of this Act, any accounts, books of accounts or other records are required to be kept, such accounts, books or other records may be kept in written form or on micro-film, magnetic tape or any other form of mechanical or electronic data retrieval mechanism.

2(1) In this Act, unless the context otherwise requires – “accounting period” in relation to a person, means the period for which that person makes up the accounts of his business: “actuary” means – testing if a change can be formatted to italic and bolded or strikeout to show a change (by Mumbi Wambugu) (a) a Fellow of the Institute of Actuaries in England: or of the Faculty of Actuaries in Scotland: or of the Society of Actuaries in the United States of America: or of the Canadian Institute of Actuaries; or (b) Such other person having actuarial knowledge as the Commissioner of Insurance may approve;...