The ASSAM FINANCE ACT, 1950

298 
ASSAM· ACT IV OF 1950 
•n-m ASSAM FINANCE ACT, 1950 
[Published in the "Assam Ga~ette, Extraordinary", dated the 
An Act to fix the rates at which Agricultural Income shall be taxed under 
the Assam Agricultural "lncome-tax Act, 1939 
Preamble.-Whereas it is expedi~nt to fix the rates at which Agricultural 
Income shall be taxed under the Assam ·Agricultural Income-tax Act, 1939, it · 
is hereby enacted as follows :-
1. Short title and extent.-(1) This Act may be called the Assam 
Act. 1950. · 
(2) It extends to the whole of Assam. 
2. Rates of Agricultural Income-tax.- The rates of Agricultural Income­
tax for the vear beginning on the 1st April 1950, shall, for the purpose of sec­
tions 3 and , 6 of the Assam Agricultural Income-tax Act, 1939 (Assam Act IX . 
of 19g9), 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 l'uch share exceeds Rs.6,000 ; 
(b) At four pies in the rupee. if the share of the brother is Rs.6,000 
less. 
B. In the case of every individual. firm and other associl:!tion of 
{other than companies) :-
(a) On the first Rs.l,500 of total in.some 
(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:­
On the whole of total income 
Provided always that--
Rate 
Nil 
Nine pies in the rupee. 
One anna and three 
in the rupee. 
Two annas and · six pies 
the rupee. 
Four annas in the rupee. 
Four annas in the rupee. 
(i) no agricultural income-tax sliall be payable · on a total 
!ncome which does not exceed Rs..3,000 
and 
(ii) the agricultural income-tax payable shall in no case exceed half the 
amount hy which the total agricultural income exceeds Rs.3.000 . 
*For statement of Objects and Reasons see "Assam Gazette, Extraordinary". 
dated 13th March 1950, page 104. 

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