The Assam Finance Act, 1965
The 11 th May 1965

No.LJL.20/65/4.-The following Act of the Assam Legislative Assembl j

which received the assent of the Governor is hereb y published for general

information.

(Receiyed tile assent of the Gover nor on the 8th May 1965)

ASSAM ACT IV OF 1965

T HE ASSAM FIN ANCE ACT, 1965

[Published in the Ah am Garett» Extraordinary, dated 11th May , i965]

An
Act
to fix the rates at which Agricultural Income sh a ll be taxed u ndee

the Assam. Agricultural Incom e-tax Act, 1939 a nd to amend t h e

###### Assam Fina,nce Act, 1961 and the Assam Finance Act, 1964.

Preamble. Whereas it is expedi ent to fix the rates a t which Assam Act

Agricult ural Income shall be tax ed under t h e Assam of 1 ~ 9~
# r:

Agri cultural Income-tax Act, 1939 an d ttl amend the I ~a~f 1963.

Assam Finance Act, 1963 and the Assam Financ e Act, As am Act

1964, hereinaft r- r called the " Said Acts" , in the VIS of i lJti ~.

manner hereinafter appearing :-
###### It is he reby enacted in the Six teenth Year of the

Republic of India as follo ws : - .

Short title, 1. (1) This Act may be called the Assa m Finance
extent and 6
commence- Act, 19 5.

ment,

(2) It extends to the whole of th e State of

Assam.

.; .
## .

(3) It shall come into force at once.

'l\ .

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

tgricultural year beginning on the Ist April, J965, shall, for the

ncome-tax- purposes of Sections 3 and 6 of thc Assam Agricul-

tural Income-tax Act, 1 93 ~ , be the rates given

###### below-

A. In the case of every,H indu undivided or J oint

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 shale exceeds Rs.6,OOO ;

(b ) At two paise in the rupee, if the share of a

brother is Rs, 6,000 or less.


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2

B. In the case of every individual, Firm ann other Association of persons

(other than cornpanies)-

Rate

Nil

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

Four paise in the

(b) On the next Rs.3,500 of total income

rupee.

Eight paise 10 the
(c) [On][ the][ nex][t][ Rs,][ 2,500][ of][ total][ incom e]

rupee.

::0) On the next Rfl . ~ . 5 '-0 of total income Twelve paise in the
rupee.

(e) On the next R ~ . 2,500 of total income ... Fifteen paise in the
rupee.

(f) On the next Rs, 2,500 of total incorne v. . Nineteen paise in the
rupee.

(g) On the next Rs. 5,000 of total incorne v.. Twenty-seven paise in
the rupee.

(h) On th e next Rs , 30,000 of to tal income T hirty-seven paise in the
rupee.

(i) On the next R s, 50,000 of total income ... Forty-five paise in the

rupee.

(j) O n the nex t Rs. 1,00,000 of total income Fifty-seven paise in the
rupee.

(k) O n the b alance of total in come Sixty paise in the rupee.

C. In the case of every Company-

(a) The total incom e of wh ich docs not

exceed Rs. 1,00,000.

O n the whole of total income Forty-five paise m the

rupee.

(b) The total income or which exceeds

Rs , I ,OO,OOn but do es not exceed
Rs. 2,00,000. .

On I he Yv hole of total income Fifty-seven paise in th e

rupee.

_Cc) Th e total_ income of which exceeds
Rs. 2,00,000.

On the whole of total income Sixty;paise in the rupee.

/

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Provided always that,-

(i) no Agricultural Income-tax shall be payable
on a total Agricultural Income which does
not exceed Rs.3,OUO ;

(ii) [in respect][ of][ paragraphs][ A][ and][ B,][ the][ Agri-]
cultural Income-tax payable shall not exceed
half the amount by which the total Agri-
cultural Income exceeds Rs.3,OOO; and

in respect of paragraph C, the Agricul-
tural Income-tax payable shall not exceed the
difference between the total Agricultural
Income and the following limits:-

(a) Rupees fifty-five thousand increased by one
per cent of the excess of the total Agri-
cultural Income over Rs.I,OO,OOO in the
case of every Company the total Agri-
cultural Income of which exceeds
Rs,I,OO,OOO but does not exceed Rs.2,OO,OOO;

(b) [Rupees][ eighty-six thousand] increased by
two and half per cent of the excess of the
total Agricultural Income over Rs.2,OO,GOO
in the case of every Company the total
Agricultural Jncome of which exceeds
Rs.2,OO,GOO.

Amendment 3. In section 2 of the "Said Acts", in clause (iii) of
of Section z the proviso to paragraph C -
of Assam J
Act IV of
1963 and

Assam Act
VI of )96&.

(1) for the words Uamount by which the residual
income is reduced tu" occurring between the
words "exceed the" and "the following" the
words "difference between the total Agri-
cultural Income and" shall be substituted;

(2) the "Note" below paragraph C shall be
deleted.

Amendment 4. Notwithstanding anvthing contained in sub-sec-

##### sad.[c] sbY tion (3) of section 1, the amendment made by section 3

h:~~~~'rot-~ shall be deemed, and alway s to have been deemed, to

nee t i v"c have formed part of the "Said Acts", as if the "Said

~ffect, Acts" had been enacted as so amended froro the
commencement of the "Said Acts".
#### u. TAHBILDAR,
Dy. Secy. to the Govt. of Assam,
Law Deptt •

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