The Assam Finance Act, 1970
#### ASSM\1: ACT XVI OF 197o

**(Received the assent of the** **Governor on the 25th** **September** **i970)**

##### THE ASSAM FINANCE ACT, 1970

[Published in the _Assam Gazette,_ Extraordinary, dated the ht October
1970]

##### An . )< Act

 to fix the rates of Assam Agricultural Income-tax and the -4.ss~
 Purchase-tax for the financial year 1fn0-71

Preamble, Whereas it is expedient to fix the rates at which :xa~ 1[~~~ ]

##### the Assam Agricultural Income-tax and the and XIX of Assam Purchase-tax shall be levied and chargerl 1967. under the Assam Agricultural Income-taix: Act,

/

##### 1939 and the Assam Purchase-tax Act, 1967 for the financial year 1970-71 ;
#### It is hereby enacted in the Twenty-first Year

##### of the Republic of India ms follows :-

Short title,
eictent and 1. (1) This Act may be called the Assam Finance
commence- Act, 1970.
ment. (2) It extends ta, the whole of the State of

##### Assam.

(3) It shall be deemed to have come into
##### force on the first day of April, 1970.

Rates of 2. The rates of Agricultural Income-tax for the
Agricultural
Income-tax. year beginning on the 1st April,

##### 1970, shall, for the purposes· of Sec- tions 3-and 6 of the Assam Agricul- tural Income-taoc Act, 1939, be the rates given below :-

 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.6,000 ; (b) at two paise in the rupee, if the share of a brother is
 Rs.6,000 or less.

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

 Rates
 (a) On tlie first' Rs.1,000 of total ... NII; income.
 (b) On the next Rs.2,500 of total ... Five paise in tlie rupee. income.

(                                        - ·

##### Price Rs.0.10 P. (only).


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#### 2

##### Rates

(c), On the next Hs.2,500 of total . .. Nine paise in the rupee.

income.

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

{e) On the next Rs.2,500 of total ... Seventeen paise in th~

income. rupe<~.

(f) On the next Rs.2,500 of total Twenty-one paise · in
income.            - he rupee.

~i) On the next Rs.5,000 of total Twenty-nine paise in

income.

##### the rupee.

### fl!) On the next Rs.30,000 of total Thirty-nine paise in

income.

the rupee.

(i) On the next Rs.50,0'00 of total ... Forty-seven paise in

income.

the rupee.

(.j) On the next Rs.1,00,000 of total Fifty-nine paise iu

inco1n'e.

##### the rupee.

(k) On' tbe balance of total income Sixty-two paise in the

rupee.

~. In the case of every Company-·

(a) The total income of which

does not exceerl Rs.1,00,000.

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

the rupee.

(b) '.fhe tqta) inco14e _of_ w hic;h

exceeds Rs.1,00,000 hut does
##### not exceed Rs.2,00,000.

 On tlie whole of total income

Fifty-nine paisc in the

rupee.

_(cJ_ The total income of which

exce d~ Rs.2,00,000.

On the whole of . total income

Sixty-two paisc in the
rupee.

Provided always that,-

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

Agricultural Income which does not exceed Rs.5,000.

(ii) in respect

of paragraphs A and B, the Agricultural

Income-fax

payable sliall not exceed half the amount bv

. which the

total Agricultural Income exceeds Rs.5,ooo·;

##### and .....


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3

### ....

(iii) m respect of paragraph C, the Agricultural Income-tal:

payable shall not exceed the difference between the total
Agricultural Income and lhe following limits-

( a) Rupees fifty-five thousand increased by one per

cent of the excess of the total Agricultural Income

over Rs.1,00,000 in the case of every Company the

total Agricultural Income of which exceeds

Rs.1,00,000 but does not exceed Rs.2,00,000 ;

# .. (b) Rupees eighty-six thousand increased by two and

##### half per cent of the excess of the total Agricultural
Income over Rs.2,00,000 in the case of every Com-
##### pany the total Agricultural Income of which

exceeds Rs.2,00,000.

### ~ates of 3. The rates at :which the tax shall be levied Assam Act

AMam Pur- XIX of

chase Tax. and collected on the purchase of 1967. /

##### Raw Jute and Raw Hides and Skins under the Assam Purchase Tax A'.ct,
1967 shall be tbree paise in ~he
rupee.

##### AGP (Law) 21/70 - 11500-3·2· 71,


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