The Assam Finance Act, 1972
ASSAM ACT XU OF 1972

(Received the assent of the Governor on the 23rd April 1972)

THE ASSAM FINANCE ACT, 1972

[Published in the Assam Gazette, Extraordinary, dated the 26th April, 1972 ]

##### An

 Act

to fix the rates of Assam Agricultural Income-tax and the Assam

Purcha&e-tax for the financial year 197~-73

I' Preamble Whereas it is expedient to fix the rates at which th Assam Ach

Assam Agricultural Income-tax and the A5sam P u IXd ~ 1[~] 3:1
chase-tax shall be levied and charged under the Assam t;,1•
Agricultural Income-tax Act, 1939 and the Assam
Purchase-tax Act, 1967 for the Financial year 1972-73.

##### It is hereby enacted in the Twenty-third Year of the
Republic of India as follo ws-

Sh~rt title, l. {l) This Act may be called the Assam Finance

extent anti Ad, 1972.
eemmence-
mcnt.

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

(3) It shall be deemed to have come into force on
the first day of April, 1972. ·

R_ates of 2. The rates of Agricultural Income-tax for the

tgr~cu~~,:-1 year beginning on the 1st April, 1972 shall for the
nc m          - purposes of Sections 3 and 6 of the Assam Agricul-.

tural Income-tax Act, 1939, be the rates given

below~-

A. In the case of every individual, Hindu undi-

vided cir Joint Family, Firm and other Association
of persons (other than companies).

Rates

(a) On the first Rs.1 1000 of Nil

total income.

(b) On the next Rs.2,500 of Five paise in the rupee.
total incE>me.

(c) On the next Rs.2,500 of Nine paise in the rupee.

total income.


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##### 2

Rates

(d) On' the next Rs.2,500 of Fourteen paise in the rupee.

total income.

{e) On the next Rs.2,500 of Seventeen paise in the rupee.
total income.

(f) On th~ next Rs.2,500 of Twentf•Onc paise in the rupee.

total 'income,

(g) On the next Rs.5,000 of Twenty-nine pa:se in the rupee.

tutal inc.ome.

{h) On the next Rs.30,000 of Thirty-nine pai~e in the rupee.,

total income.

(i) On the next Rs.50,000 of Forty•3evr.n paise m th~ rupee.

total income.

##### (j) On the next Rs.1,00,000 of Fifty-nine paise in •he rupee.
total ' income.

{k) On the balance of total Sixty-two paise in the rupet".

income.

##### B. In the case of every Company,-

                         -

{a) Total income of which does

not exceed Rs.1,00,000.

##### On the wh·)le of total income Forty~1even paise in the rupee,

(b) The total income of which

exceeds Rs. 1,00,000 but

does not e x c e e d

Rs.2,00,000.

On the whole of total income Fifty•nine pa ise in! the rupee.

(c) The total income of which

exceeds Rs.2,00,000.

On the whole of total income SiKty-two paise in the rupee.

Pravided always that,-

(i) no Agricultural Income•tax shall be pay-
able on a total Agricultural lncome which

do~ not exceed Rs.S,000 j


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##### 3

{ii) in respect of paragraph A, the Agricul-

tural Income-tax payable shall not exceed

half the amount by which the total Agri•
cultural Income exceeds Rs.5,000 ; and

(iii) in respect of paragraph B, the Agricul-

tural Income-tax payable shall not exceed
the difference between the total Agricul·
tural Income and the following limits:-

(a) Rupees fifty-five thousand increased by one

per ce11t of the excess of the total Agricul-
tural Income over Ra. I, 00,000 in the case

of every Ccmpany the total Agricultural
Income of which exceeds Rs.1,00,000 but
does not exceed Rs.2,00,000.

(b) Rupees eighty-six thomand increased by

two and half per cent of the excess of the
total Agricultural Income over Rs.2,ll0,000
in the case oi every Company the total
Agricultural Income of which exceeds
Rs.2,00,000.

Rates ef 3. The rates at which the tax shall be levied and Auam Act

As1111m Pur- collected on the purchase of the items of the Schedule XIX of
cba11 Tax. under the Assam Purchase Tax Act, 1967 shall be 1917.

as follew1 :-

in respect of items I, 2 and 3- Three paise per rupee value &f the
price at which tl.e taxable goods are
purchased.

in re1pect of item 4- Two paise per rupee value of the
price at which the taxable good
are purchased.

AGP. (Leg.) No.l0/72-2 ,000-20-7-72 .


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