The Assam Finance Act, 1964
ASSAM ACT No.VI OF 1964-

##### THE ASSAM FINANCE ACT, 1964

[Received ~he assent or the Governor on the 16th April 1964.]

[Published in the Assam Gazett« Extraordinary, dated the 18th April, 1964]

##### AD
Act

##### to fis the rates at which Agricultural Income shall be taxed~under
 the As.am Agricaltural Iacome-tax Act, 1939

Preamble Whereas it is expedient to fix the rates at which
Agricultural Income shall be taxed under the Assam ~~ l~~~
Agricultural Income-tax Act, 1939 ; 0

##### It is hereby enacted in ~ the Fifteenth Year of the
Republic of India as follows:-

Short title 1. (1) This Act may be called the Assam Finance

and extent. Act, 1964.

(2) It extends to the whole of Assam.

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

tsricultW'al year beginning on the Ist April, 1964, shall, for the
nceme-tax, 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 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 naye paise in the rupee, if the share
of a brother is Rs, 6,000 or less.

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

Rate

(a) On the first Rs, 1,500 of total income Nil.

(b) On the next Rs, 3,500 of total income Four Naye Paise in

the rupee.

~cJ On the next Rs. 2,500 of total ir.come Eight Naye Paise in

# .the rupee•

(d) On the next Rs.2,500 of total income Twelve Naye Paise

in the rupee

_[Price '06 Paise. ]_


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##### 2

Rate

(e).-.. On~. the-.... next- Rs.2,5uO of total- income Fifteen N aye Paise

in t he rupee.

(f). O~ the next Rs.2,500 of total income Nine teen Na ve , Paise

in the rupee.

(g) On the next Rs.5,OOO of total income T wentv-seven Nave

Paise in the rupee.

(h) O n the next Rs.30,O OO of total income Thirty-seven Naye

Paise in th e

rupee.

(i) On the next Rs.50,OOOof total income Forty-five Nave Paise

in the rupee .

#### (j) On the next R s.l,OO,OOO of total income Fifty-seven Naye

Paise in the rupee .

(k) On the balance of total income Sixty Naye Paise in

the rupee.

C. In the case of every Com pany- .

(a) T he total income _of_ which does not
exceed Rs.l ,OO,OI) O.
O n the whole of total income Fo rty-five Nay e

Paise in the rupee '

(b) T he t otal inc ome of whi h -exceeds
Rs. l,OO,aOo but does not exceed

R s.2,OO,000.

On the whole of total in com e Fifty seven ' aye

Paise in the rupee .

(c) The to tal income of which exceeds

R s.2,OO,OOO.

On the who le of total income Sixty Naye Paise in

the rupee.

Provid ed always th at-

(i) no Agricult rral Income-tax 'shall 'be payable on a total

Agricultural Income which does n t exceed Rs. 3,OOO ;

(ii) in respect to paragraphs A an d B, the Agricu lt ural Income-tax

pavabl sha .l net exceed half th e a mount by whi ch t he total

Agrit:ult u ra l Income exceeds Rs.3,OO!) ; and

\iii) in respect to pa ras ra ph U, t i. e Azr icultural ' ncoml;-tax payable

_._ _hall no_ t e xt t ed -h e »rnou n r by which the resid ual income is

.tLQu(e _!'j the_ o rlowing tirnits r-«

(a ) R upees fifrv-five t hou sand increased by one p er cent of the
excess of the total Agri cultural Income ov er Rsd ,OO,OOO in the
case ..., f every Com pa                - y the tot al Agricu ltural Income of which

exceeds R:.l,nn [1!10 bu- does not exceed Rs.2,OO,O UO ;

b) Ru pees eif.:h (' -six rhou sand increased by two and half per cent

_ (!f the excess f he t otal Agr icultura l I ncome over .Rs.2,OO,000
in th e case of every Com pany the total Agricultural Income of
w hic n exceed'! Rs . ,00,000

,\ o(e- ' ReS idue>I inrom t m ea n s (he am ount of total Agricultural lncom e

as red uced by the a ount of tax which would have been charge..

able.

_j_

AGP (Leg)26/64-8S7- 11-8-64.

_.J_


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