~- -; The 5th April 1966 No.LJL.8/66/4.- The following Act of the Assam Legislative Assembly which received the assent of the Governor is hereby published for general information.
ASSAM ACT XI OF 1966
(Received the assen t of the Governor on the 4th April, 1966)
THE ASSAM FINANCE ACT, 1966
Published in the
Assam Gazette, Extraordinary, dated the 5th, April, 19€6 An
Act
to fis: the rates at which Agricultllral Income shall be t axed under the Assam Agricultural Income-tax Act, 1939
Preamble. Where as it is expedient to fix the rates at which Assam Act Agricultural Income shall be taxed under the Assam IX of 19311 Agricultural Income-tax Act, 1939 ;
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Short title, extent and commence- ment.
It is hereby enacted in the Seventeenth Year of the Republic of India as follows:-
1. (1) T his Act may be called th e Assam Finance Act , 1966.
(2) It extends to the whole of the State of Assam•
. (3) It shall come into force at once. Rate
R a.tcs . of 2. T he ra tes of Agricultural Income-tax for the year A l1;rIcultural beginning on the 1st Apr il, 1966, shall, for the purpo- ~come-tax. ses of Sections 3 and 6 of the Assam Agricult ural Income-tax Act, 1939, be th e ra t es given below- A. In the cas(of every Hindu undivided or Joint
family-
(a) At the rate applicable, under the list of rates cont ained in paragraph B below to a sum equal to the share of a brother if such share exceeds Rs.6,OOO ;
(b) At two paise in the ru pee, if the sha re of a brother is Rs.6,OOO or less.
P. In the case of every individual, Firm and other Association of persons (other than companiesj-e-
(a) On the first Rs.l,500 of total income tb) On the next Rs. 3,500 of total income
(c) On the next R s.2,SOO oftotal income
(d) On the next Rs.2,SOOof total income
(e) On the next Rs.2,500 of total income
(f) On the next Rs.2,500 of total income
(g) On the next Rs.5,OOO of total income
(h) On the next Rs.30,OOOof total income
(i) On the next Rs.50,OOO of total income
(j) On the next Rs.l,OO,OOO of total income
(k) On the balance of total income Nil
Four paise in the
rupee.
••• Eight paise in the rupee.
Twelve paise in
the rupee.
Fifteen paise in the rupee.
Nineteen paise in the rupee.
Twenty-seven pai- se in the rupee. Thirty-seven pai- se in the rupee, Forty-five paise in the rupee.
Fifty-seven paise in tho rupee.
Sixty paise in the rupee.
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"'- 3 C. In~the cas of every Company-
(a) The total income of which does not exceed Rs.l,OO,OOO.
On the whole of total income
(b) The total income of which exceeds Rs.I,OO,OOO but does not exceed Rs.2,OO,OOO. Forty-five paise
in the rupee.
On the whole of total income ••• Fifty-seven paise in the rupee.
(c) The total income of which exceeds Rs.2,OO,OOO. On the whole of total income Sixty 'paise in the rupee.
Provided always that,-
(i) no Agricultural Income-tax shall be payable on a total Agricultu- ral Income which does not exceed Rs.3,OOO ;
(ii) in respect of paragraphs A and B, the Agricultural Income-tax payable shall not exceed half the amount by which the total Agricultural Income exceeds Rs.3,OOO; and
(iii) in respect of paragraph C, the Agricultural Income-tax payable shall not exceed the difference between the total Agricultural Income and the following limit'!:-
(a) Rupees fifty-five thousand increased by one per cent of the excess of the total Agricultural Income over Rs.I,OO,OOO in the case of every Company the total Agricultural Income of which exceeds Rs.I,OO,OOO but does not exceed Rs .2,OO,OOO;
(b) Rupees eighty-six thousand increased by two and half per cent of the excess of the total Agricultural Income over Rs.~.OO,OOO in the case of every Company the total Agricultural Income of which exceeds Rs.2,OO,OOO.
U. TAHBILDAR,
Deputy Secy, to the Govt. of As sam"
Law Department.
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