The ASSAM FINANCE ACT, 1949

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[ 
ASSAM ACT II OF 1949 
THE ASSAM FINANCE ACT, 1949 
(Passed by the Assembly) 
[Received the assent of the Governor on the 28th 
March 1949] 
lPublished in the Assam Gazette, Extraordinary of the 30th March 1949) 
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 
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. 1949. 
{2) It extends to the whole of Assam. 
Rates of 2. The rates of agricultural incom&-tax for the year 
Agricultural beginning on the 1st of April 1949, 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.5,000 ; 
(b) At four pies in the rupee, if the share of the 
brother is Rs.5,000 or less. 
B. In the case of every individual, firm and other 
association of persons (other than Companies)-
(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.5,000 of total income 
(d) On the next Rs. 5,000 of total 
income. 
(e) On the balance of total income 
C. In the case of every Company, 
the total income of which does not exceed 
Rs.25,000-
On the whole of total income 
[ Price 1 anna or 1 d. ] 
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 
in the rupee. 
Two annas 
and six pies 
in the rupee. 
2 
D . In the case of any other Company the 
total income of which exceeds Rs.25,000 - ­
(a) On the first Rs .lO,OOO of total.income 
Rate 
Two annas and 
six pies in the 
rupee. 
(b) On the bal ance of total income 
Provided alw ays that­
Four annas In 
the rupee. 
(i) no agricultural income-tax shall be payable ori a 
total agricultural income which does not exceed Rs.3,000, 
(ii) the agricultural income-tax payable shall in no case 
exceed half the amount by which the total agricultural 
income exceeds Rs.3,000, and 
(iii) where the residual income, after deduction of the 
agricultural income-tax of a Company falling in category 
D, falls below Rs.2l,093-12-0, only that much shall be 
assessed as agricultural income-tax as .will leave the residual . 
income at not less than Rs.21,093 -l2-0 • 
• '\,G, P, (Leg,) No,4 {49-775•P->l7·5, l 949, 
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