The Assam Finance Act, 1967
The 5th August 1961

###### No.LJL.llJ67J-i.- The following Act of the Assam Legislative Assembly
which received the assent of the Governor is hereby published for; general
information.

## -. ASSAM ACT XI OF 1967

          - ~ (Received the assent of the Governor on t he 2nd Au gullt, 1967)

###### THE ASSAM FINA,,~CE ACT, 1967

[Published in the Assam Gazette, Extraordinary, dated the 7th August, 1967)

An

Act

###### to 6x the rates at which Agricultural Income
 shall be t axed under the Assam Ag r icultural

Incom e-tax Act, 1939

Preamble Whereas it is expedient to fix the rates at which ASla:n Act

the Agricultural Income shall be taxed under the IX of 1939.
Assam Agricultural Income-tax Act, 1939 ;


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###### 2

 It is hereby enacted in the Eighteenth Year of the
Republic of India as follows :-

Short ti tle, 1. (1) This Act may be called the Assam Finance

extent and Act, 1967.
commence-

ment.

(2) It extends to the whole of the State of .

Assam.

(3) It shall be dee med to have come into force
with effect from 1st April. 1967.

AR ~ tIe s or 2. The rates of Agricultural Income-tax for the year

I~~l~e~~~. beginning on ,the 1st April, 1967, shall, for ~he pur-
poses of sections 3 and 6 of the Assam Agricultural

Income-tax 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,OOO or less.

B. In the case of every individual, Firm and other Association of
persons (tither than cornpanies)-

Rate

(a) On the first Rs.l.500 of total income Nil.

(b) On the next Rs.3,SOO of total income Four paise in the

rupee.

(c) On the next Rs:2,500 of total income Eight paise in' the

rupee.

(d) On the next Rs.2,500 of total income Twelve paise in

the rupee.

(e) On the next Rs.2.500 of total m come Fifteen paise lD

the rupee.

(f) On the next Rs.2 ,500 of total income Nineteen paise in

the rupee.

(g) On the next Rs.5;000 of total)ncome Twe n t y-s eve n

paise in the
rupee.


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##### s

Rate

(h) O n the next Rs.30.000 of total income T i r t Y-5 eve n
paise in the
rupee.

(i) On the next Rs.50,000 of total income Forty-five paise jJl

the rupee.

(j) On th e next Rs.l ,00,000 of to tal income Fifty-seven paise in

the rupee.

(k) O n the balance of total income Sixty paise in . tbe

r upee.

###### C. In the case of every Company-

( a) T he total income of which does not exceed
Rs.l ,OO ,OOO.
O n the whole of total income Forty-five paise in

the rupee.

(b) The total income of which exceeds
Rs.I,OO,OOO but does not exceed
Rs.2,OO,OOO.

On the whole of total income Fifty-seven paise

in the rupee.

(c) The total income of which exceeds Rs.2,OO,OOO

On the whole of total incom e Sixty paise in the

rupee.

Provided always tha t,-

(i) no Agricultural Income-tax shall be payable on a total Agricul -
tu ral Income which does not exceed Rs.3 ,OOO ;

(ii) in respect of parag-raph s A and E, the Agricultural Income-tax
payable shall not exceed h alf the amount by which the total I
Agricultural Income exceeds Rs .3,OOO; and

### I·
###### I

(iii) in respect of paragraph C, the Agricultural Income-tax payable
shall not exceed the difference between the total Agricultural
income and the followin~ limits :-

# I

###### (a) Rupees fifty-five thousand increased by One per cent of the excess
of the to tal Agricultural Income over Rs.l ,OO,OOO in the case

of every Company the total Agricultural Income of which
exceeds Rs.I,OO,OOObut docs not exceed Rs.2 ,OO,OOO ;

(b) Rupees eighty-six th ousand increased by two and half per cent

of the excess of the total Agricultural Income over Rs.2,OO,OOO
in the case of every Company the total Agricultural Income

of which exceeds Rs.2,OO,OOO.

P. C. DAS.
Joint Secy, to the Govt. of Assam.

###### - Law Department.


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