The Assam Finance Act, 1964

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 B below,
to a sum equal 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
2
(e) On the next Rs. 2,5 uO of total inco me.-.. ~. -.... - -
(f). O~ the next Rs.2 ,500 of total income
(g) On the next Rs.5,OOO of total incom e
(h) O n the next Rs.30,O OO of tot al i ncom e
(i) On the next Rs. 50,OOOof tot al income
(j) On the next R s.l,O O,OOO of total income
(k) On the balance of total income
C. In the case of every Com pa ny- .
(a) T he tota l i ncom e of which does not
exceed Rs.l ,O O ,OI) O.
O n the whole of total inc ome
(b ) T he t otal income of whi h -exceeds
Rs. l,OO,aOo but does n ot excee d
R s.2,OO,000 .
On the whole of t otal in com e
(c) The to tal income of which exce eds
R s.2, OO,OOO.
On t he who le of t otal income
Rate
Fifteen N aye P aise
in t he rupe e.
Ni ne teen Na ve , Paise
in th e rupee.
T went v-seven Nave
Paise in the rupee .
Thirty-seven Naye
Paise in th e
rupee.
For ty-five Nave Pai se
in the rupee .
Fifty-seven Naye
Paise in the rup ee .
Sixty Naye Paise in
the ru pee.
Fo rty-five Nay e
Paise in t he rupe e '
Fifty seven ' a ye
Paise in the rupee .
Six ty Naye Paise in
the rupee.
Provid ed always th at-
(i) no Agricult rral Income- tax 'sh all 'be payable on a total
Agricult ural In come w hich d oes n t exceed Rs. 3,OOO ;
(i i) in resp ect to para graph s A an d B, the Agricu lt ural Income-tax
pavabl sha .l net exce ed h alf th e a mount by whi ch t he total
Agrit:ult u ra l I ncome exce eds R s.3,O O!) ; and
\ iii) in re spect to pa ras ra ph U, t i. e A zr icultural ' ncoml ;-tax payab le
. hall no t e xt t ed -h e »rn ou n r by which the resid ual income is
.tLQ u(e !'j the o rlowing tirni ts r-«
(a ) R upees fifrv-five thou sa nd in crea sed by one per cent o f the
exce ss of the tot al Agri cultural Inc ome over Rsd ,OO,OOO in the
case ...,f ever y Com pa - y th e tot al Agricu ltur al Income of which
exceeds R:.l,n n [1 !10 bu - does not exceed Rs.2,OO,OUO ;
b) Ru pees eif.:h(' -six rhou sand in creased by two a nd half per cent
_ (!f th e ex cess f he t ota l Agr icul tura l I ncome over .Rs.2,O O,000
in th e case of ever y Com pany t he tot al Agricultur al 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 Agricu ltural lnc om e
as red u ced by the a ount o f tax which woul d have been char ge..
able .
j
AGP (Leg)26/64-8S7 - 11-8-64.
.J

‹ Prev All Assam acts Next ›