The Assam Finance Act, 1971

115 
ASSAM ACT XX OF 1971 
THE ASSAM FINANCE ACT, 1971 
(As passed by the Assembly) 
(Received the ass ent of the Governor on the 28th Jane, 1971) 
[Publish ed in the Assam Gazette, Extraordi nary, dated the 3rd July 1971] 
An 
Act 
t o fix the rates of Assam Agricultural Income-tax and the Assam 
Purchase-tax for the financial year 1971-72. 
P reamble. ] Whereas it is expedient to fix the rates at which Assam Act 
the Assam Agric ultur al Income-tax and the Assam I Xdof 15f9t 
Purchase tax shall .be levied and charged urider af 96; 1 0 
the Assam Agricult ural Inc ome·tax Act, 1939 and the • 
Assam Purch a,e -tax Act, 1967 for the financial year 
1971-72. 
It is hereby enac ted in the Twenty-S econd Year 
of the R epublic of India as follows:-
Short title, I. (1) This Act may be called the Assam Finance 
exte nt and Act 1971. 
commence- ' 
sient. 
(2) It extend s to the whole of the State of 
Assam. 
(3) It shall be d eemed to have come into force 
on the first day of April, 1971. 
Rates of 2. The rates of Agri cul tural Income-tax for the 
Agricultural y~ar beginning on the 1 st Apr il, 1971, shall for 
Income-tax. the purposes of Sec tions 3 & 6 of th<:: Assam Agri· 
cultur al Inc ome -tax Act, 1939, be the rates given 
below:-
A. In the case of every individu al, Hindu undivided or Joint Family, 
Firm and other Associatio n o f persons (other th an companies)-
Rat es 
(a) On the first Rs.1 ,000 of tot al Nil. 
income. 
(b } On the next Rs. ~ .soo of tot al Fi ; e paise in the l'upee. 
income. 
(cl On the 
income. 
next Rs.2,500 of total Nine paise In the rupee. 
(d) On the next Rs.2,500 of total Fo urteen paise in the rupee, 
income. 
(ej On the next Rs.2,500 of total Seventeen paise in the rupee , 
inco me. 
116 
Rates 
{f) On the next Rs.2,500 of total Twenty-one paise in the rupee • 
income . 
{g) On the next Rs. 5, ooo· of total Twenty-nine paise in the 
income. rupee . 
(h) On the next R~ 30,000 of total T hirty-n ine paise in the rupee. 
income . 
. (i) 
CD 
(k) 
On the next Rs.50,000 of total 
incom e. 
Forty-seven paise in the rupee. 
On the next Rs.l,00 000 of total 
inco me. 
On the balan ct of total income 
Fifty-nine paise in the rupee. 
Sixty-two paise in the rupee. 
B. In the case of eve ry Company-
(a) The total income of which does not 
exceed Rs. l ,00 000. 
(b) 
O n the whole of total income. 
The total i. come of which exceeds 
Rs .l ,00,COO hut does not exceed 
Rs.2,0 0,000 
O n the whole of total income. 
(c) 'lhe tot al income of which txceed s 
Rs.2,00 ,000. 
On the whole of total income. 
Provide d alway s that -
Forty-seven 
rupee. 
Fifty-nine 
rupee. 
Sixty-t wo 
rupee. 
paise in the 
paise in the 
paise in the 
(i) no Agricultural Income-tax shall be payable on a total Agricul­
tu ral Inc ome which does not exceed R~.5,000 ; 
(ii) in respect of paragraph A, the Agricultural Income-ta x payable 
shall no t exceed half th~ amount by which the total Agricultur&l 
Incom e exceed Rs.5,000 ; anJ 
(iii) in respe ct of paragraph B, the Agricultural Income-ta x pay able 
shall no t exceed the differer.Ce between the total Agric ul tural 
Income and the following limits: -
(a) Rup ees fifty-five thousand increased by one per cent 
excess of the total Agricultural Income over Rs.1, o:i,OOO 
case of every Company the tot..:.! Agricultural Income of 
exceeds Rs . l,00,000 but does "10t exceed Rs .2,00.000. 
of the 
in the 
which 
(b) Rupee s eighty-six thOl.isand incmre<l by two and half per cent 
of the excess of the total Agricultural Income over Rs 2,00,000 
in the case of every Comp2·1y the total A~ricultur al Income of 
which exceeds Rs.2.00,000. 
Rates P of 3. The rates at which the tax 8h<> 11 be levied and 
c~mT ur-·collec ted on the purchase of raw jute and raw hides 
as ax. and skins under the Assam Purchase Tax Act. 1967 
shall be three p aise per rupee value of 1he price at 
which the taxabl e goods a.re purchased. 
Assam Act 
XIX of 
1961. 

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