The Assam Finance Act, 1970

,, ASSM\1: ACT XVI OF 197o 
(Received the assent of the Governor on the 25th September i970) 
THE ASSAM FINANCE ACT, 1970 
[Published in the Assam Gazette, Extraordinary, dated the ht October 
1970] 
An 
Act 
. )< 
to fix the rates of Assam Agricultural Income-tax and the -4.ss~ 
Purchase-tax for the financial year 1fn0-71 
Preamble, 
Short title, 
eictent and 
commence­
ment. 
Rates of 
Agricultural 
Income-tax. 
Whereas it is expedient to fix the rates at which :xa~ 1~~~ 
the Assam Agricultural Income-tax and the and XIX of 
Assam Purchase-tax shall be levied and chargerl 1967. 
under the Assam Agricultural Income-taix: Act, 
1939 and the Assam Purchase-tax Act, 1967 for 
the financial year 1970-71 ; 
It is hereby enacted in the Twenty-first Year 
of the Republic of India ms follows :-
1. (1) This Act may be called the Assam Finance 
Act, 1970. 
(2) It extends ta, the whole of the State of 
Assam . 
(3) It shall be deemed to have come into 
force on the first day of April, 1970. 
2. The rates of Agricultural Income-tax for the 
year beginning on the 1st April, 
1970, shall, for the purposes · of Sec­
tions 3-and 6 of the Assam Agricul­
tural Income-taoc 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 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)-
( ·1· 
(a) On tlie first' Rs.1,000 of total ... 
income. 
Rates 
NII; 
(b) On the next Rs.2,500 of total ... Five paise in tlie rupee. 
income. 
Price Rs.0.10 P. (only) . 
/ 
2 
Rates 
(c), On the next Hs.2,500 of total . .. Nine paise in the rupee. 
income. 
(d) On the next Rs.2,500 of total ... 
income. 
{e) On the next Rs.2,500 of total ... 
income. 
(f) On the next Rs.2,500 of total 
income. 
~i) On the next Rs.5,000 of total 
income. 
fl!) On the next Rs.30,000 of total 
income. 
(i) On the next Rs.50,0'00 of total ... 
income. 
(.j) On the next Rs.1,00,000 of total 
inco1n'e. 
(k) On' tbe balance of total income 
~. In the case of every Company- · 
(a) The total income of which 
does not exceerl Rs.1,00,000. 
On the whole of total income 
(b) '.fhe tqta) inco14e of w hic;h 
exceeds Rs.1,00,000 hut does 
not exceed Rs.2,00,000. 
On tlie whole of total income 
(cJ The total income of which 
exce d~ Rs.2,00,000. 
On the whole of . total income 
Provided always that,-
Fourteen paise in the 
rupee. 
Seventeen paise in th~ 
rupe<~. 
Twenty-one paise · in 
·the rupee. 
Twenty-nine paise in 
the rupee. 
Thirty-nine paise in 
the rupee. 
Forty-seven paise in 
the rupee. 
Fifty-nine paise iu 
the rupee. 
Sixty-two paise in the 
rupee. 
Forty-seven paise in 
the rupee. 
Fifty-nine paisc in the 
rupee. 
Sixty-two paisc in the 
rupee. 
(i) no Agricultural Income-tax shall be payable on a total 
Agricultural Income which does not exceed Rs.5,000. 
(ii) in respect 
Income-fax 
. which the 
and 
of paragraphs A and B, the Agricultural 
payable sliall not exceed half the amount bv 
total Agricultural Income exceeds Rs.5,ooo ·; ..... 
.. 
3 
.... 
(iii) m respect of paragraph C, the Agricultural Income-tal: 
payable shall not exceed the difference between the total 
Agricultural Income and lhe following limits-
~ates of 
AMam Pur­
chase Tax. 
( a) Rupees fifty-five thousand increased by one per 
cent of the excess of the total Agricultural Income 
over Rs.1,00,000 in the case of every Company the 
total Agricultural Income of which exceeds 
Rs.1,00,000 but does not exceed Rs.2,00,000 ; 
(b) Rupees eighty-six thousand increased by two and 
half per cent of the excess of the total Agricultural 
Income over Rs.2,00,000 in the case of every Com­
pany the total Agricultu ral Income of which 
exceeds Rs.2,00,000. 
3. The rates at :which the tax shall be levied 
and collected on the purchase of 
Raw Jute and Raw Hides and Skins 
under the Assam Purchase Tax A'.ct, 
1967 shall be tbree paise in ~he 
rupee. 
Assam Act 
XIX of 
1967. 
AGP (Law) 21/70- 11500-3·2· 71, 
/ 

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