The Assam Finance Act, 1966

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The 5th April 1966
No.LJL.8 /66/4.- The following Act of the Assam Legislative Assembly
which received the a ssent of the Governor is hereby published for general
informat ion.
ASSAM ACT XI OF 1966
(Received the assent o f the Governor on the 4th April, 1966)
THE ASSAM FINANCE ACT, 1966
Published in the Assam Gaze tte, Extraordinary, dated the 5th, April, 19€6
An
Act
to fis: the rates at which Agricultllral Income shall be t axed under
the Assa m Agricultural Income-tax Act, 1939
Preamble. Where as it is expedient to fix the rates at which Assam Act
Agricult ural Income shall be taxed under the Assam IX of 19311
Agricultu ral Income-tax Act, 1939 ;
2 ..
Short title,
extent and
comme nce­
ment .
It is he reby enacted in the Seventeenth Year of the
Republic of Indi a as follows:-
1. (1) T his Act m ay be called th e A ssam
Finance Act, 1966.
(2) It extends to t he whole of the S tate of
Assam•
. (3) It shall com e into force a t o nce.
Rate
R a.t cs. of 2. T he ra tes of Agri cultural Inc ome-tax for the year
A l1;rIcultural beginnin g on the 1st A pr il, 1966, shall, for the p urpo­
~c o m e - t a x. ses of Secti ons 3 and 6 o f the Assam Agr icult ural
Income-t ax A ct, 1939, be th e ra t es given b elow-
A. In the cas(of every Hindu undivi ded or Joint
family-
(a) At the rate applicable, unde r the list of
rates co nt ained in paragr ap h B below
to a sum equal to the share of a brot her
if such share exceeds Rs.6,OOO ;
(b) At two paise in the ru pee, if the sha re of a
brother is R s.6,OOO or less.
P. In the case of every individ ual, Firm and othe r Association of persons
(other than companies j-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 of total incom e
(d) On the next Rs.2,SO O of 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,O O Ooftotal income
(i) On the next Rs.50,OOO of total income
(j) On the ne xt Rs.l,OO,OOOof total income
(k) On the balance of total income
Nil
Four paise in the
rupee.
••• Eight paise in the
rupee .
Twel ve paise in
the rupee.
Fifteen paise in
the rupee.
Nineteen paise in
the rupee.
Twenty-seven pai­
se in the rupee.
Thir ty-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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-
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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,OOObut 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 R s.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 para graph C, the Agricultural Income-tax payable
shall not exceed the difference betw een the total Agricultural
Income and the following limit '!:-
(a) Rupees fifty-five thousand increased by one per cent of the excess
of the total Agricu ltural 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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