The ASSAM FINANCE ACT, 1953

.... 
ASSAM ACT V OF 1953 
THE ASSAM FINANCE ACT, 1953 
(Passed by the Assembly) 
(Received the assent of the Governor on the 30th March 1953) 
(Published in the Assam Guzette, Exraordinary, dated the 30th March 1953) 
An 
Act 
to fix the rates at which Agricultural Income shall be taxed 
under the Assam Agricultural Income Tax Act, 1939. 
Preamble. WHEREAS it is expedient to fix the rates at which Agricul-
tural Income shall be taxed, under the Assam Agricultural Assam Acl 
Inc0me Tax Act, 1939, it is hereby enacted as follows:- 1X of 1939. 
Short title l. (1). This Act may be called the Assam Finance Act, 
and extent. 1953. 
(2) It extends to the whole of Assam. 
2. The rates of Agricultural Income Tax for the year Assam Act 
beginning on the 1st April, 1953, shall, for the purpose of IX ofl93!> 
Sections 3 and 6 of the Assam Agricultural Income Tax Act, 
1939, be the rates given below:-
Rat~s of A. In the case of every Hindu Undivided or Joint 
Agricultural family:-
~~~me (a) At the rate applicable under the list of rates 
• contained in para graph B below to a sum equal 
to the share of a brother if such share exceeds 
Rs.6,000; 
(b) At four pies in the rupee, if the share of the 
brother is Rs.6,000 or less. 
H. In the case of every individual, firm and other 
A~sociation of persons (other than Companies):-
(a) On the first Rs.1,500 of total 
income. 
(b) On the next Rs.3,500 of total 
income. 
(c) On the next Rs.5,000 of total 
income. 
(d) On the next Rs.S,OOO of total 
income. 
(e) On the balance of total income 
C. In the case of every Company : ·· 
On the whole of total income 
Provided always that-­
Rate 
Nil. 
Nine pies in 
the rupee. 
One anna and 
three pies in 
the rupee. 
Two annas and 
six pies in the 
rupee. 
Four annas m 
the rupee. 
Four annai m 
the rupee, 
(i) No agricultural income-tax shall be payable on 
a. total agricultural income which does not exceed 
Rs.3,000, and 
(ii) the agricultural income-tax payable shall in 
J lt ) case exceed half the amount by which the total agricul· 
tural income exceeds Rs.3,000. 
[Price anna 1 or ld.] 
A.G.P. (Leg.) No.4/54-1125-1Mel954. 

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