The Assam Finance Act, 1968
### ,J'he Assarn Cazette

###### EXTRAORDINARY PUBLISHED BY AUT HORiTY

No.59. Shillong. Wenesday, June 12, 1968, 22nd Jyaistha, 1890 (S.B )

###### GOVERNMENT OF ASSAM

ORDERS BY THE GOVERNOR

LAW DEPARTMENT

NOTIFICATION

The lIth June 1968

No.LJL.14J68J7.-The following Act of the Assam Legislative Assembly

which received the assent of the Governor is hereby published for genera l
information.

ASSAM ACT XV OF 1968

(Received the assent of the Governor on the 7th June 1968)

THE ASSAM FINANCE ACT, 1968

[Published in the Assam Gazette Extraordinary, dated the 12th June, 1968J

An

Act

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

P u rchase-t a x for the financial year 1968-69

Preamble Whereas it is expedient to fix the rates at which Assam Act
the Assam Agricultural Income-tax and the Assam IX
d [of][ Jii~]

Purchase-tax shall be levied and charged under the ~f 1967

Assam Agricultural I ncome-tax Act, 1939 and the .

Assam Purchase-tax Act, 1967 for the financial year
1968-69 ;

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308 T HE ASSAM GAZETTE, EXTR AO RDINARY, JU NE 1::. 1968

It is hereby enacted in the Nin eteenth Year of
the Republic of India as follows : -

I. (l) This Act may be called the Assam Finance

Short title,

extent and Act, 1968.
commence- (2) It extends to the who le of the State of

me nt. Assam.

(3) It shall be deemed to have come into forc e

on th e first day of Ap ril, 1968.

Rates of 2. The rates of Agr icultural I ncome-tax for the

Agricultur - year beginning on the l st April 1968, shall, for the
al In come- 0            - d '
t rx, purposes of sec tions 3 an 6 0fAthe Assam gricul-

tural Income-tax Act, 1939, be the rates given below-

A. In the case of every Hindu undivided or Joint
family-

(a) At the rate ar plicable, under the list of

rates con tained in paragraph B below to
a sum equal to th e share 01 a brother, if
such share exceeds Rs.6,OOO;

(b) at two paise in the rupee, if the share
of a brother is R s.6, OOO or less.

B. In the case of every individual, Firm and
other Association of persons (oth er than companies)-

Rate
(a) On the first Rs.!,fiOO total in- Nil
come.
(b) O n the next Rs.3,5(}Oof total .. . Four paise in
income. . the rupee.

(c) On the next Rs.2,500 of total Ei ght paise in
income. the ru pee.

(d) On the next Rs.2,500 of to tal Twelve paise

income. in the rupee.

(e) On the next Rs. 2,500 of total ... Fifteen paise in

income. the rupee.
(f ) On the next Rs.2,50n of total Nineteen paise

income. in the rupee.

(g) O n the next Rs .5,OOO of tot a! Twenty-seven

income. paise in the
rupee.
(h) On the next Rs.'·W,OOOof total .. '( hirty-seven

income. paise in the
rupee.

(i) On the next Rs.50,OOO of total.. . Forty-five paise

income. in the rupee.

(j) O n the next Rs. I,00,000 of .. . Fifty-seven paise

total income. in the rupee.

(k) On th e bala nce of total in- ... Sixty paise in
come. the rupee .

_.-...__"--_ ~ _...Ir----'__ _/_


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C. In the case of ev~y Company-

(a) The total income of which do es no t exceed
Rs.l,OO,OOO.
On the whole of total income Forty-five paise

in the rupee.

:b) The total income of which exceeds Rs .l,OO,OOO

but does not exceed Rs.2,OO,OOO.

On the whole of total Fifty-seven paise
income. in the rupee.

(c) T he total income of which exceeds R ~.2 ,OO,OOO.

On the whole of total Sixty pa ise in

income. the rupee.

Provided always that,-

(i) no Agri cultural Income-tax shall be payable on

a total Agricultural Income which does not
exceed Rs. 3,OOO ;

li\) in respect of paragraphs A and B, the Agricul-
tural Income-tax payable shall not exceed

half the amount by which the total Agricul-
tural Income exceeds Rs. 3,000 ; and

(iii) in respect of paragraph C, the Agricultural

Income-tax payabl e 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 Agricultural

Income over Rs .l,OO,OOO in the case of every
Company the total Agricultural Income of
which exceeds Rs.l ,OO,OOO but does not
exceed Rs.2,OO,000;

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

Rates of 3. The rates at which the tax shall be levied and Assam Act

XIX of

Assa n Pur- collecte d on the purchase of Raw Jute and R aw Hides

1967.

chase Ta'&:. and Skins u nder the Assam Purchase Tax Act, 1967
shall be three per ~centum ad valorem.

B. SAR MA,
Secy. to the Government of Assam,

La w Depart ment.

SH,LLONG-Print ed and published by the Supe rintendent, Assam

Government Press (Fox. Gazett l' ~ No.1 17-1 ,323 +550-12.6-68.


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