The Assam Finance Act, 1971
115

ASSAM ACT XX OF 1971

THE ASSAM FINANCE ACT, 1971

(As passed by the Assembly)

(Received the assent of the Governor on the 28th Jane, 1971)

[Published in the _Assam_ _Gazette,_ Extraordi nary, dated the 3rd July 1971]

An
Act

t o fix the rates of Assam Agricultural Income-tax and the Assam

Purchase-tax for the financial year 1971-72.

Preamble.] Whereas it is expedient to fix the rates at which Assam Act

the Assam Agricultural Income-tax and the Assam IXdof 15f9t

Purchase tax shall .be levied and charged urider af 96[; 1 ] 0

the Assam Agricultural Income·tax Act, 1939 and the            -

Assam Purcha,e-tax Act, 1967 for the financial year
1971-72.

### It is hereby enacted in the Twenty-Second Year

of the R epublic of India as follows:-

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

extent and Act 1971.
commence- '

sient.

(2) It extends to the whole of the State of
Assam.

(3) It shall be deemed to have come into force
on the first day of April, 1971.

Rates of 2. The rates of Agricultural Income-tax for the
Agricultural y~ar beginning on the 1st April, 1971, shall for

Income-tax. the purposes of Sections 3 & 6 of th <:: Assam Agri·

cultural Income-tax Act, 1939, be the rates given

#### below:-

A. In the case of every individu al, Hindu undivided or Joint Family,
Firm and other Association of persons (other than companies)-

Rates

(a) On the first Rs.1 ,000 of total Nil.

income.

_(b }_ On the next Rs. ~ .soo of total Fi ;e paise in the l'upee.

income.

(cl On the next Rs.2,500 of total Nine paise In the rupee.

income.

(d) On the next Rs.2,500 of total Fourteen paise in the rupee,

income.

(ej On the next Rs.2,500 of total Seventeen paise in the rupee,

income.


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Rates

{f) On the next Rs.2,500 of total Twenty-one paise in the rupee •

income.

{g) On the next Rs. 5, ooo· of total Twenty-nine paise in the

income. rupee.

(h) On the next R~ 30,000 of total T hirty-nine paise in the rupee.
income .

. (i) On the next Rs.50,000 of total Forty-seven paise in the rupee.

income.

CD On the next Rs.l,00 000 of total Fifty-nine paise in the rupee.

income.

(k) On the balanct of total income Sixty-two paise in the rupee.

B. In the case of every Company-

(a) The total income of which does not

exceed Rs. l ,00 000.

On the whole of total income. Forty-seven paise in the

rupee.

(b) The total i. come of which exceeds

Rs.l ,00,COO hut does not exceed
Rs.2,00,000

On the whole of total income. Fifty-nine paise in the

rupee.

(c) 'lhe total income of which txceeds

Rs.2,00,000.

On the whole of total income. Sixty-two paise in the

rupee.

Provided always that -

(i) no Agricultural Income-tax shall be payable on a total Agricul-

tu ral Income which does not exceed R~.5,000 ;

(ii) in respect of paragraph _A,_ the Agricultural Income-tax payable

shall no t exceed half th~ amount by which the total Agricultur&l

Income exceed Rs.5,000 ; anJ

(iii) in respect of paragraph B, the Agricultural Income-tax payable
shall not exceed the differer.Ce between the total Agricul tural
Income and the following limits: -
(a) Rupees fifty-five thousand increased by one per cent of the
excess of the total Agricultural Income over Rs.1,o :i,OOO in the

case of every Company the tot..:.! Agricultural Income of which

exceeds Rs. l,00,000 but does "10t exceed Rs.2,00.000.

(b) Rupees eighty-six thOl.isand incmre<l by two and half per cent
of the excess of the total Agricultural Income over Rs 2,00,000
in the case of every Comp2·1y the total A~ricultural Income of
which exceeds Rs.2.00,000.

Assam Act

Rates P of 3. The rates at which the tax 8h<> 11 be levied and

XIX of

c~mT ur- ·collected on the purchase of raw jute and raw hides 1961.

as ax. and skins under the Assam Purchase Tax Act. 1967

shall be three paise per rupee value of 1he price at
which the taxable goods a.re purchased.


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