tHE ASSAM GAZETTE, LXTRAO!U)lI\iARY, MARCH 29, · _;/5 183 The 29th March 1975
No.LJL.124/75/1.-The following Act of the Assam Legislative Assembly which received the assent of the Governor is hereby published for general information.
ASSAM ACT IV OF 1975
(Received the assent of the Governor of Assam on thc29th dar of March,
1975)
THE ASSAM FINANCE ACT, 1975
An
Act
to fix the rates of Assam Agricultural In- come-tax and the Assam Purchase-tax for the financial year, 1975-76.
Preamble. Whereas it is expedient to fix the rates at Assam Acts which the Assam Agricultural Income-tax and IX of 1939 the Assam Purchase-tax shall be levied and and 1 ~ 7 X of Short title,
extent and
commence-
ment.
Rates of
Agricultural
Income-tax.
charged under the Assam Agricultural Income- · tax Act, 1939 and the Assam Purchase Tax Act, 1967 for the financial year 1975-76;
it is hereby enacted in the Twenty-sixth
Year of the Republic of India as follows:-
1. (1) This Act may be called the Assam Finance Act, 1975.
(2) It extends · to the whole of the State of Assam.
(3) It shall be deemed to have come into force on the first day of April, 1975. '.2. The rates of Agricultural Income-tax (o:r the year beginning on the 1st April. 1975 shall, for the purposes of sections 3 and 6 of the Assam Agricultural Income Tax Act, 1939, be the rates given below:-
A. In the case of every individual, Hind11 undivided or ]oint family, firm and other association of persons (other than companies),-
Rates.
(a) on the first Rs. 1,000 of total income.
Nil
(b) on the next . Rs. 2,500 of total income.
Five paise in the rupee.
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is4 THE ASSAM GAZETTE EXTRAORDINARY, MARCH 29. 1915
(c) on the next Rs. 2,500 of total income.
(d) on the next Rs. 2,500 of total income.
(e) on the next Rs. 2,500f o_ total income.
(f) on the next Rs. 2,500of total income.
(g) on the next Rs. 5,000 of total income
(h) on the next Rs. 30,000 of total income.
(i) on the next Rs. 50,000 of total income.
(j) on the next Rs. 1,00,000 of total income.
(k) on the balance uf total in- come. ' "'.:
B. In the case of every com- pany,-
(a) the total income of which does not exceed Rs. 1.00.000, on the whole of total in- come.
(b) the total income of which exceeds Rs. 1,00,000 but does not exceed Rs.2,00,000, on the whole of total income.
(c) the total income of which exceeds Rs. 2,00,000 , on the whole of total income. Provided always that,- -- - -
Nine paise in the ruµe~ Fourteen paise in . the ru1-1ee. Seventeen paise in the ruµee. Twenty-one paise in th• rupee.
Twenty-nine paise in the rupee.
Thirty-nine paise ii1 th~ rupee.
Forty-seven paise 111 t.he rupee.
Fifty-nine paise in the run~. SixtY-two paise in the runee. Forty-se\ ~n paise
rupee.
in th~
,. '' ~·
Fifty-nine paise in the rupe~ Sixty-two paise in the rupee.
(i) no Agricultural Income-tax .shall be p~y- able on a total agricultural income which does not exceed Rs. 5.000 ;
(ii) in respect of paragraph A, the Agri- cultural Income-tax payable sh_all not exceed half the amount by which the total agricultural income excE:eds Rs. 5,000; and
(iii) in respect of paragraph B, the A~ricul- tural Income-tax payable shall not exc~ed the difference between the total
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THE ASSAM GAZETTE, EXTRAORDINARY, MARCH 29, 1975 18S
ltatcs of
ASiam Pur-
llha e Tax.
agricul.tural income and the following limits:-
(a) rupees fifty-three thousand increased by ~me per cent of the excess of the total agricultural income over Rs. 1,00,·- 000 in the case of every company the total agricultural income of which exce- e
(b) rupees eighty-two thousapd increased by two and half per cent of the excess of the total agricultural income ovE>r Rs. 2,00,000 in the case of every com- pany the total agricultural income of which exceeds Rs. 2,00,000.
3. The rates at which the tax shall be le- vied and collected on the purchase of the items of the schedule under the Assam Purchase Tax Act, Hl67 "hall be as follows :-
Assam Act
XIX of
1967.
in respect of items 1, 2 and 3. Three paise per rupee value of the price at which the taxable
goods are purchased.
iM respect of item 4.
Joint
Two paise per rupee value of
the price at which the taxable
goods are purchased.
;.:~w~~
Md. SAADULLAH,
Secy. to the Govt. of Assam,
Law Department.
Oaubati-Prfntcd and published by the Joint Supdt.; Assam Govt. Press fBx-Onette) No.73-l,500+600-29-3-1~75.
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