The ASSAM FINANCE ACT, 1942
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_(_ ASSAM ACT IV OF 1942

##### THE ASSAM FINANCE ACT, 1942

_[Rtceired_ _lltt aJStnl of_ _the_ _Governor_ _011_ _the_ _21st_

_March_ _1942]_

(Published in the _Assam_ _Gazette of_ the 1st April

1942]

_An_ _Act to fix tlte_ _rates_ _at_ _which_ _agriculturaL_ _income_

_sltall be_ _taxed_ _under_ _the_ _Assam_ _Agricultural_ _Incomt·_
_lax_ _Act,_ _1939._

WHEREAS iL is expedient _to_ fix the rates al P,enmblr.

As1nm Act which Agricultural income shall be taxed und<~r

IX (lf 1939. the Assam Agricultural I ncome-tax Act 1939 ;

AND wmm.EAS the Governor of Assam has

assumed to himself under the Proclamation

dated Lhe 25th December 1941 issued by him

26 [Geo. ] [s ] [under ] [section ] [93 ] [of ] [the ] [Government ] [of ] [India ]

Ch. 2. ' Act, 1935, all powers vested by or under the

-:aid Act in Lhe Provincial Legis)ature ;

Now, therefore, in exercise of the said powers
the Governor of Assam is pleased to make the

following Act:-
1. (1) This Act may be called the Assam ShoJttitle.

Finance Act, J 942.

(2). It extends to the whole of Assam.
2. The rates of agricultural income-tax for the Rntea of

year beginning on the lst of April l9[1]l2, shall agric:ullur:~l

Assam Act for the purpose of sections 3 and 6 of the As5."lm ill<'c'rne-•ax.

1>.. of 193q, 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 n below

to a sum equal to the share or a

brother if such share exceeds

Rs.S,OOO.

_(b)_ a l four pies in the rupee, if the share of

a brother is Rs.5,000 or less.

##### B.-In the case of every individual, firm and

other association of persons (other than Com-

##### panies)-

Ra1ea

1. On the first Rs.l,SOO of total Nil.

income.

_[Price_ _3 ann as_ _or 3d.]_


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2

_2._ On the next Nine pies in the

Rs.S,SOO of total rupee.

income.

3. On the next One anna and three

Rs.S,OOO of total pies in the rupee.

income.

4. On the next Two ann as m the

Rs.S,OOO of total rupee.

income.

5. On the balance of Two anoas and SIX

total income. pies in the rupee.

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

##### On the whole total in- Two annas and six

come. pies in the rupee.

Provided always that-

_(i)_ No agricultural income-tax shall ~e pay-
able on a total agricultural mcome
which does not exceed Rs.3,000, and

(ri) the agricultural income--tax payable shall

in no case exceed half the amount by
which the total agricultural income
exceeds R.s.3,000.

A.O.P. (Leg.) No.93fSO-lOO~S..l951,


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