ASSAM ACT I OF 1945
*THE ASSAM FINANCE ACT, 1945 (Published in the Assam Gazette, Extraordinary, of the 29th March. 1945}
An Act to fix the rates at which Agricultural income shall be taxed under the Assam Agricultural i ncome-tax Act, 1939 W uEREII.s it is expedient to fix the rates at which Agri- cultural income shall be taxed under the Assam Agricultural I ncome-tax Act 1939, it is hereby enacted as follows :-
1. (1) Thi.s Act may be called the Assam Finance Ac t,
1945.
l2) It extends to the whole of Assam.
2. The rates of agricultural income· tax for the year beginning on the 1st of April, 1945, shall, for the purpose of sections 3 and 6 of the Assam Agricultural Income-tax Act, Assam Act l 939, be the rates given below : I X of 1939,
A. Tn the case of every Hindu undivided or J oint Family-
(a) at the rate applicable under the list of rates contain- ed in paragraph B below to a sum equal to the share of a brother if such share excc:cds Rs.5,000,
(b) a t four pies in the rupee, if the share of the b rother is Rs.S ,000 or less. .
B. In the case of every individual, firm and other association of persons (other than Companies) -
1. On the first Rs. 1,500 of total income.
2. On the next Rs.3,500 of total income.
3. On the next Rs. 5, 000 of total income.
Rate
Nil.
Nine pies in
t he rupee.
O ne artna and
three pies in
the rupee.
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1. Substituted by the A. Q ., 1950 for "Provincial" . *For Objects and Reasons see Asram Gazette page 1, part V, dated the 24th January 1945,
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86
4 . On the next Rs. 5,000 of total income.
5 On the balance of total in- come.
C. In the case of every Company- On the \~hole total income Two annas in
the rupee.
Two annas and
six pies m
the rupee.
Two annas and
six pies in the
rupee.
Provided always lhat-
(i) No agricultural income-tax shall be payable ou a total agricultural income which docs not exceed Rs.3,000, and
(ii) ·the agricultural income·tax payable shall in no case exceed half the amount by which the total agricultural in- come exceeds R s.3,000.