The Assam Finance Act, 1973

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ASSAM ACT IV OF 1973 
THE ASSAM FINANCE ACT, 1973 
(Received the assent of the Governor on the 31st March, 1973) 
[Publish ed in the Assam Ga<,ette Extraordinary, dated the 3rd April, 1971] 
An 
Act 
to fis the rates of Assam Agricultural Income-t ax and the Assani 
Purcha se-tax for the financial year, 1973 -74 
Preamble Whereas it is expedient to fix the rates at whi ch the Assam Acts 
. )' 
Assam Agricultural Income-tax and the Assam IXd of *i~ 
Purchase-tax shall be levied and charged under the ~: 1967 . 
Aasam Agricultural Income-t ax Act, J939 and the • 
Short ti tie, 
extent and 
commence­
ment. 
Assam Purcha se tax Act, 1967 for the .l"inancial Year 
1973-74; 
It i11 hereby enacted in the Twenty-fo urth YeaJ' of 
the R epublic of India as follows:-
1. (1 ) This Act may be called the Assam 
Finance Act, 1973. 
(2) It extends to the whole of the State of 
Assam. 
(3) It shall be deemed to have come mto 
force on .the first day of April, 1973. 
Rates of 2. The rates of Agricultural Income-tax for the 
Agricultural year beginning on the 1st April, 1973 shall, for the 
Income·tax. purpose s of sections 3 and 6 of the Assam Agri­
cultural Income-tax Act, 1939, be the rate s given 
below:-.. • •. ·1. 
~ ,, . . .· .. 
A. In the case of every Individual, Hindu undivi ded 
or Joint Family, Firm and other Association of 
persons (other than companies)-
(a) on the first Rs.! ,000 of 
total income. 
(b) on the next Rs.2,500 of ... 
total income. 
(c) on the next Rs.2,SOO of ... 
total income. 
(d) on the next R•.2,500 of .•. 
total inCCin:ae. 
Rates 
Nil. 
Five paiJe in 
the r upee. 
Nine paise in 
the rupee. 
Feurt e en 
paise in 
the l'Upco. 
B. 
2 
(e) on the next Rs.2 ;500 of ... 
total incom e. 
(f) on the next R's.2,500 of .. . 
total iac•me . 
(g) on the next R s.5,80() of 
total income. 
(h) on the aext Rs.30,000 of 
total iDCOll"e. 
(i) on 1he next Rs,50,~00 of 
t•tal income. 
(') J_ on dae next R1.l,tlO,QOO 
of t•tal i•come. 
(k) on the balance of total ... 
income. 
In the case of every Company,-
(a) the total income of 
which d8es not exceed 
Rs. l,@0,000 oB the whole 
of tutal income. 
(b) the total income of which 
exceeds Rs.1,00,006 but 
doe1 not exceed 
Rs.2,00,000 on the whole 
of total income. 
(c) the total income of whfoh 
exceeds Rs.2,00,000 on 
Rates 
Seven teen 
paise in 
the 11upec. 
Twenty-one 
paise in 
the rupee. 
Twenty-nine 
pai1e in 
the rupee. 
Thirty-nine 
paise ia 
the rupee. 
Forty-seven 
f)aise in 
the rupee. 
Fifty-n in e 
paise in 
the rupee. 
Six & y-two 
paise ia 
the rupee. 
Ferty-1even 
paiae in the 
rupee, 
Fifty-nine 
paise in the 
rupee. 
Sixty- t w c 
paise in the 
the whole of total rupee. 
income ·. 
Provided always that,-
(i) no Agricultural Income-tax shall be 
payable ori a total Agricultural Income 
which dees not exceed Rs.5,000 ~ 
• 
• 
,. 
Rates of 
Assam Pur­
chase-Tax. 
3 
(ii) in respect of paragraph A, the Agricu ,tural 
Income-tax payable shall not exceed half 
the amount by which the total Agricultural 
Income exceeds Rs.5,600 ; and 
(iii) ia respect of paragraph B, the Agricultural 
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. 1,00,001 in the 
case of every Company the total Agri­
cultural income of which exceeds Ra.1,00,000 
but does not exceed Rs.2,t0,001. 
(b) .R.upees eighty-six thousand increased by 
two and half per cent of the excess of the 
total Agricultural Inoome over Rs. 2,0t,0()0 
in the case of every Company the total 
Agricultural income of which exceeds 
Rs.2,to,000. 
3. The rates at which the tax shall b~ levied 
and collected on the purchase of the item• of the 
Schedule under the Assa• Purchase Tax Act, 1967 
1 hall be as follows : - . 
m respect of items I, 2 and 3 ... 
,/ 
m respect of item 4 
Three paise per 
rupee value of the 
price at which the 
taxable goods are 
purchased. 
Two paise per 
rupee value of the 
price at which the 
taxable goods arc 
purchased. 
GP· (Lee.) No.1/73-3,000-19-4-73. 
Assam Act 
XIX of 
1967. 

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