The ASSAM FINANCE ACT, 1949
. ;.>'

THE ASSAM FINANCE ACT, 1949

(Passed by the Assembly)

[Received the assent of the Governor on the 28th
March 1949]

lPublished in the _Assam_ _Gazette,_ _Extraordinary_ of the 30th March 1949)

_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
agricultural income shall be taxed under the Assam Agri-
cultural Income-tax Act, 1939, it is hereby enacted as
follows:-

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

and extent. 1949.
{2) It extends to the whole of Assam.

Rates of 2. The rates of agricultural incom&-tax for the year
Agricultural beginning on the 1st of April 1949, shall, for the purpose of
Income-tax. sections 3 and 6 of the Assam Agricultural Income-tax Act, Assam Act
1939, be the rates given below:- IX of 1939,

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.5,000 ;

_(b)_ At four pies in the rupee, if the share of the
brother is Rs.5,000 or less.

_[_ B. In the case of every individual, firm and other

association of persons (other than Companies)-

Rate

_(a)_ On the first Rs.l,500 of total income Nil.
_(b)_ On the next Rs.3,500 of total income Nine pies in

the rupee.

_(c)_ On the next Rs.5,000 of total income One anna and

three pies in
the rupee.

_(d)_ On the next Rs. 5,000 of total Two annas and
income. six pies in

the rupee.

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

### in the rupee.

C. In the case of every Company,
the total income of which does not exceed
Rs.25,000-

On the whole of total income Two annas

and six pies
in the rupee.

[ _Price 1 anna_ _or_ _1 d._ ]


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D . In the case of any other Company the
total income of which exceeds Rs.25,000- - Rate

_(a)_ On the first Rs.lO, OOO of total.income Two annas and

six pies in the
rupee.
_(b)_ On the balance of total income Four annas In

the rupee.

Provided always that-

_(i)_ no agricultural income-tax shall be payable ori a
total agricultural income which does not exceed Rs.3,000,

_(ii)_ the agricultural income-tax payable shall in no case
exceed half the amount by which the total agricultural
income exceeds Rs.3,000, and
_(iii)_ where the residual income, after deduction of the
agricultural income-tax of a Company falling in category
D, falls below Rs.2l,093-12-0, only that much shall be
assessed as agricultural income-tax as .will leave the residual.
income at not less than Rs.21,093-l2-0 •

           - '\,G,P, (Leg,) No,4{49-775•P->l7·5, l 949,


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