The ASSAM FINANCE ACT, 1948

ASSAM ACT I OF 1948. 
THE ASSAM FINANCE ACT, 1948. 
(Passed by the Assembly) 
[Received the assent of the Governor on the 29th March, 1948 ] 
[Published in the Assam Ga<;ett1, Extraordinary of the 31st March, 19,8.] 
An 
.Act to fix the rates at which Agricultural Income shall be taxed under the Assam 
Agricultural Income-tax Act, 1939. 
P1eamble. WHEREAS it is expedient to fix the rates at which 
Agricultural Income shall be taxed under the Assam . Agri­
cultural Income-tax Act, 1939 ; it is hereby enacted as 
follows:-
Short title 1. (1) This Act may be called the Assam Finance Act; 
and extent. 1948. 
(2) It extends to the whole of Assam. 
Rates of 2. The rates of Agricultural Income-tax for the year 
Agricultural beginning on the 1st of April 1948, shall for the purpose of 
Income-tax. Sections 3 and 6 of the Assam Agricultural Income-tax Act, Assam Act 
1939, be the rates given below:- IX of 1939. 
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.S,OOO ; 
(b) at four pies in the rupee, if the share of the 
brother is Rs.S,OOO or less. 
Price 1 anna or 1 d. 
2 
B. In the case of every individual, firm and other 
association of persons (other than Companies)-
Rate 
(a) On the first .Rs.l,500 of total income 
(b) On the next Rs.3,500 of total income 
(c) On the next Rs.5,0()0 of total income 
(d} On the next Rs. 5,000 of total 
income. 
(e) On the balan ce of total income 
C. In the case of every Comp a ny­
On the whole total inc ome 
Nil. 
Nine pies in · 
the rupee. 
One anna and 
three pies in 
the rupee . 
Two annas in 
the rupee . 
Two anna s 
and six pies 
in the 
rupee . 
1 wo an nas 
and six pies 
in the 
rupee . 
Provided always that-
(ii No agricultural income·tax 
total agricultural income which does 
shall be payable on a 
not _ exceed Rs.3 ,000, 
and _ _____ ___ _____ ___ _ ___.:l!ifi)L_!!the agricultural income·tax payable shall in n o case 
exceed half the amount by wh1ch the total agricultural 
income exceeds Rs.3,000. 
A.G. P . (Leg.) No. l /48-775-18 S-i9t 8. 

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