ASSAM ACT No.VI OF 1964-
THE ASSAM FINANCE ACT, 1964
[Received ~he assent or the Governor on the 16th April 1964.] [Published in the Assam Gazett« Extraordinary, dated the 18th April, 1964]
AD
Act to fis the rates at which Agricultural Income shall be taxed~under the As.am Agricaltural Iacome-tax Act, 1939
Preamble Whereas it is expedient to fix the rates at which Agricultural Income shall be taxed under the Assam ~~ l~~~ Agricultural Income-tax Act, 1939 ; 0
It is hereby enacted in ~ the Fifteenth Year of the Republic of India as follows:-
Short title 1. (1) This Act may be called the Assam Finance and extent. Act, 1964.
(2) It extends to the whole of Assam. Ratea of 2. The rates of Agricultural Income-tax for the tsricultW'al year beginning on the Ist April, 1964, shall, for the nceme-tax, purposes of sections 3 and 6 of the Assam Agricul tural Income-tax Act, 1939, be the rates given below- A. In the case of every Hindu Undivided or Joint family-
(a) At the rate applicable, under the list of rates contained in paragraph Bbelow, to a sumequal to the share of a brother if such share exceeds Rs. 6,000 ;
(b) At two naye paise in the rupee, if the share of a brother is Rs, 6,000 or less. B. In the case of every individual, Firm and other Association of persons (other than companies)- Rate
(a) On the first Rs, 1,500 of total income
(b) On the next Rs, 3,500 of total income ~cJ On the next Rs. 2,500 of total ir.come
(d) On the next Rs.2,500 of total income [Price '06 Paise. ]
Nil.
Four Naye Paise in
the rupee.
Eight Naye Paise in
the rupee • .
Twelve Naye Paise
in the rupee
1
2
(e) On the next Rs.2,5uO of total income .-.. ~. -.... - -
(f). O~ the next Rs.2 ,500 of total income
(g) On the next Rs.5,OOO of total income
(h) O n the next Rs.30,O OO of total incom e
(i) On the next Rs.50,OOOof total income
(j) On the next R s.l,OO,OOO of total income
(k) On the balance of total income C. In the case of every Com pany- .
(a) T he to ta l incom e ofwhich does not exceed Rs . l ,OO,OI) O.
O n the whole of total income (b ) T he total income of whi h -exceeds Rs. l,OO,aOo but does not exceed R s.2,OO,000.
On the whole of total in com e
(c) The to ta l income of which exceeds R s.2,OO,OOO.
On t he who le of total income Rate
Fifteen N aye Paise
in t he rupee.
Ni ne teen Nave , Pa ise
in the rupee.
T wentv-seven Nave
Paise in the rupee.
Thirty-seven Naye
Paise in th e
rupee.
Forty-five Nave Paise
in the rupee .
Fi fty-seven Naye
Paise in the rupee .
Sixty Naye Paise in
the ru pee.
Fo rty-five Nay e
Paise in the rupee '
Fifty seven ' aye
Paise in the rupee.
Six ty Naye Paise in
the rupee.
Provid ed always that-
(i) no Agricu lt rral Income-tax 'shall 'be payable on a total Agricult ural In come which d oes n t exceed Rs. 3,OOO ; (i i) in respectto paragraphs A and B, the Agricu lt ural Income-tax pavabl sha .l ne t exceed ha lf th e a mount by whi ch t he total Agrit:ult u ra l I ncome exceeds R s.3,OO!) ; and \ iii) in respect to pa ras ra ph U, t i. e Azr icultural ' ncoml;- tax payable
. hall no t e x t t ed -h e »rn ou n r by which the resid ual income is .tLQu(e !'j t he o rlowing ti rni ts r-«
(a ) R upees fifrv-five thousa nd in crea sed by one per cent o f the excess of the tot al Agri cultural Income over Rsd ,OO,OOO in the case ..., f every Com pa- y the tot al Agricu ltural Income of which exceeds R:.l,nn [1!10 bu - does not exceed Rs.2,OO,O UO ;
b) Rupees eif.:h ('-sixrhou sand in creased by two a nd half per cent _ (!f th e excess f he t ota l Agr icul tura l I ncome over .Rs.2,OO,000 in th e caseof every Com pany t he total Agricultural Income of w hic n exceed '! Rs . ,00,000
,\ o(e- ' ReS idue>I inrom t m ea n s (he am ount of total Agricultural lncom e as red uced by the a ount of tax which would have been charge.. able.
j
AGP (Leg)26/64-8S7- 11-8-64.
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