The ASSAM FINANCE ACT, 1953
## ASSAM ACT V OF 1953

THE ASSAM FINANCE ACT, 1953

(Passed by the Assembly)

(Received the assent of the Governor on the 30th March 1953)

(Published in the Assam Guzette, Exraordinary, dated the 30th March 1953)

_An_

_Act_
_to_ _fix_ _the_ _rates at which Agricultural_ _Income_ _shall_ _be_ _taxed_

_under the_ _Assam Agricultural_ _Income_ _Tax_ _Act, 1939._

Preamble. WHEREAS it is expedient to fix the rates at which Agricul-
tural Income shall be taxed, under the Assam Agricultural Assam Acl
Inc0me Tax Act, 1939, it is hereby enacted as follows:- 1X of 1939.

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

and extent. 1953.

(2) It extends to the whole of Assam.
2. The rates of Agricultural Income Tax for the year Assam Act

beginning on the 1st April, 1953, shall, for the purpose of IX ofl93!>
Sections 3 and 6 of the Assam Agricultural Income Tax Act,
1939, be the rates given below:-

Rat~s of A. In the case of every Hindu Undivided or Joint
Agricultural family:-

~~~me _(a)_ At the rate applicable under the list of rates

            - contained in para graph B below to a sum equal
to the share of a brother if such share exceeds

Rs.6,000;

_(b)_ At four pies in the rupee, if the share of the
brother is Rs.6,000 or less.

H. In the case of every individual, firm and other

A~sociation of persons (other than Companies):-

Rate

_(a)_ On the first Rs.1,500 of total Nil.
income.
_(b)_ On the next Rs.3,500 of total Nine pies in
income. the rupee.
_(c)_ On the next Rs.5,000 of total One anna and
income. three pies in

the rupee.

_(d) On the_ next Rs.S,OOO of total Two annas and
income. six pies in the

rupee.

_(e)_ On the balance of total income Four annas m

the rupee.

C. In the case of every Company : ··

On the whole of total income Four annai m

the rupee,

Provided always that--

(i) No agricultural income-tax shall be payable on

a. total agricultural income which does not exceed

Rs.3,000, and
_(ii)_ the agricultural income-tax payable shall in

J lt ) case exceed half the amount by which the total agricul·
tural income exceeds Rs.3,000.

_[Price_ _anna_ _1 or_ _ld.]_

A.G.P. (Leg.) No.4/54-1125-1Mel954.


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