The Assam Finance Act, 1965

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The 11 th May 1965
No.LJL .20/65/4.-The followin g Act of t he Ass am Legisla tive Assem bl j
which received the asse nt of t he Gove rnor is h ereb y publishe d for g ene ral
inform ation .
(Receiyed tile assent of the Gover nor on the 8th May 1965)
ASSAM AC T IV OF 1965
T H E ASSAM FIN ANCE ACT, 1965
[Published in the Ah am Garett» Ex trao rd ina ry, da te d 11th May , i965 ]
An
Act
to fix the rates at whic h A gricul tur al Income s h all be tax ed u nde e
the Assam. Agricultura l Inco m e-tax Act, 1939 a nd to amend t h e
Assam Fina,nce Act, 1961 and the Assam Finan ce Act , 1964 .
Preamble. Wher eas i t is expedi ent to fix t he rates a t wh ich Assam Act
Agric ult ural Inc om e shall be tax ed und er t h e Assam r: of 1 ~ 9~
Agricultura l I ncome -tax Act, 19 39 an d ttl a mend the I ~a~f 196 3.
Assam Finance Act , 1963 a nd the A ssam Fina nc e Act, As am Ac t
1964, here inaft r- r called the " Said Acts" , in the VIS of i lJti ~.
manner here ina ft er appe ari ng : -
It is hereby enacted in th e Six teent h Year of the
Republic of India as follo ws : - .
Short title, 1. ( 1) T his Ac t m ay be called the Assa m Financeextent and 6commence- Act, 19 5.
ment,
(2) It exten ds to the whole o f th e State o f
Assam.
(3) It shall come into force at once.
Ratts of 2. The rates of Agricult ural Incom e-tax f or the
tgricultural year beginni ng o n the Ist Apr il, J965, shall, for th e
ncome-tax- purpo ses of Sect ion s3 a nd 6 of thc Assam Agricul ­
tural Income-t ax Act, 1 9 3 ~ , be the rates given
below-
A. In the case of every ,H indu undivided or J oin t
family- .
(a) At the rate applicable , und er the lis t of rates
con tained in paragra ph B belo w to a sum equ al to
the share of a brother if su ch shal e exceeds Rs.6,O O O ;
(b ) At t wo p aise in the rupe e, if the share of a
brother is Rs , 6,000 or les s.
Rate
2
B. In the case of ev ery indi vidu al, Firm ann othe r Association of persons
(other than cornpanies) -
(a) On the fir st R s. 1,500 of total inco me
(b) On the nex t Rs.3,500 of total income
Nil
Four paise in the
rupee.
(c) On the nex t Rs, 2,500 of total incom e Eight paise 10 the
rupe e.
:: 0) On the next Rfl . ~ . 5 '-0 of total incom e Twelve paise in the
rupee.
(e) On the next R ~ . 2, 500 of total i ncome ... Fifteen paise in the
rupee.
(f) On the nex t Rs, 2,50 0 of total incorn e v. . Nin eteen paise in the
ru pee.
(g) On the n ext R s. 5,000 of to tal incorne v.. Twenty-seven paise in
the rupee .
(h) On th e next Rs , 30,000 of to tal i ncome T hirty-seve n paise in the
rupee.
(i) On the next R s, 50,000 of total income ... Forty-five pai se in the
rupee .
(j) O n the nex t Rs. 1,00,000 of total incom e Fift y-seven paise in the
rupee.
(k) O n the balanc e of total in come Sixty pai se in the rupee.
C. I n t he case of every Comp any-
(a) The tota l incom e of wh ich docs not
exceed Rs. 1 ,00,000.
O n the whole of tota l income
(b) The tot al in come or which exceeds
Rs , I ,OO,OOn but do es not exceed
Rs . 2 ,00,000. .
On I he Yv hole of tota l inco me
Cc) Th e total income of which exceeds
Rs. 2, 00,000.
On the whole of total income
Forty-five paise m t he
rupe e.
Fifty-se ven paise i n th e
rupee.
Sixty ;paise in the rupee.
/
l'-...- ~ --
3
Provided always that,-
(i) no Agricultural Income-tax shall be payable
on a total Agricultural Income which does
not exceed Rs.3,OUO ;
(ii) in respect of paragraphs A and B, the Agri­
cultural Income-tax payable shall not exceed
half the amount by which the total Agri­
cultural Income exceeds Rs.3,OOO; and
in respect of paragraph C, the Agricul­
tural Income-tax payable shall not exceed the
difference between the total Agricultural
Income and the following limits:-
(a) Rupees fifty-five thousand increased by one
per cent of the excess of the total Agri­
cultural Income over Rs.I,OO,OOO in the
case of every Company the total Agri­
cultural Income of which exceeds
Rs,I,OO,OOObut 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.2,OO,GOO
in the case of every Company the total
Agricultural Jncome of which exceeds
Rs.2,OO,GOO.
. .
Amendment 3. In section 2 of the "Said Acts", in clause (iii) of
of Section z the proviso to paragraph C -of Assam J
Act IV of
1963 and
Assam Act
VI of )96&.
(1) for the words Uamount by which the residual
income is reduced tu" occurring between the
words "exceed the" and "the following" the
words "difference between the total Agri­
cultural Income and" shall be substituted;
(2) the "Note" below paragraph C shall be
deleted.
Amendment 4. Notwithstanding anvthing contained in sub-sec­
sad.c sbY tion (3) of section 1, the amendment made by section 3
h:~~~~'rot-~ shall be deemed, and alway s to have been deemed, to
nee t i v"c have formed part of the "Said Acts", as if the "Said
~ffect, Acts" had been enacted as so amended froro the
commencement of the "Said Acts".
u. TAHBILDAR,
Dy. Secy. to the Govt. of Assam,
Law Deptt •

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