The ASSAM FINANCE ACT, 1948
(Passed by the Assembly)

**[Received the assent** **of the** **Governor on the 29th March, 1948 ]**

[Published in the Assam _Ga<;ett1,_ _Extraordinary_ of the 31st March, 19,8.]

_An_

_.Act_ _to_ _fix_ _the_ _rates_ _at_ _which_ _Agricultural_ _Income_ _shall_ _be_ _taxed_ _under_ _the_ _Assam_
_Agricultural Income-tax_ _Act,_ _1939._

P1eamble. 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. 1948.
(2) It extends to the whole of Assam.

Rates of 2. The rates of Agricultural Income-tax for the year

Agricultural beginning on the 1st of April 1948, 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.S,OOO ;
_(b)_ at four pies in the rupee, if the share of the
brother is Rs.S,OOO or less.


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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.

Nine pies in ·

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

the rupee.

One anna and

_(c_ _)_ On the next Rs.5,0()0 of total income

three pies in
the r upee.

Two annas in

(d} On the next Rs. 5,000 of total

the rupee.

income.

Two annas

(e) On the balance of total income

and six pies
### in the
rupee.

C. In the case of every Compa ny-

1 wo annas

On the whole total income

and six pies
in the
rupee .

Provided always that-

shall be payable on a

_(ii_ No agricultural income·tax

not _ exceed Rs.3 ,000,
total agricultural income which does

and
_ ________ _____ ___ _ ___.:l!ifi)L_!!the agricultural income·tax payable shall in no case

exceed half the amount by wh1ch the total agricultural
income exceeds Rs.3,000.


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