The Assam Finance Act, 1973
./ ( ASSAM ACT IV OF 1973

_.¥_

THE ASSAM FINANCE ACT, 1973

(Received the assent of the Governor on the 31st March, 1973)

[Published in the Assam _Ga<,ette_ Extraordinary, dated the 3rd April, 1971]

###### An

Act

###### to fis the rates of Assam Agricultural Income-tax and the Assani
 Purchase-tax for the financial year, 1973-74

Preamble Whereas it is expedient to fix the rates at which the Assam Acts

# . , . '·" Assam Agricultural Income-tax and the Assam IXd of *i~

#### . )' Purchase-tax shall be levied and charged under the ~: .

1967

Aasam Agricultural Income-tax Act, J939 and the

###### •

Assam Purchase tax Act, 1967 for the .l"inancial Year

1973-74;

###### It i11 hereby enacted in the Twenty-fourth YeaJ' of
the R epublic of India as follows:-

Short ti tie, 1. (1 ) This Act may be called the Assam

extent and Finance Act, 1973.

commence-
ment.

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

Assam.

(3) It shall be deemed to have come mto

force on .the first day of April, 1973.

Rates of 2. The rates of Agricultural Income-tax for the
Agricultural year beginning on the 1st April, 1973 shall, for the

Income·tax. purposes of sections 3 and 6 of the Assam Agri-

cultural Income-tax Act, 1939, be the rates given
###### .. below:-
 •

            -            - .

A. In the case of every Individual, Hindu undivided

~ ,, . . or Joint Family, Firm and other Association of

persons (other than companies)-

###### .· ..

Rates

(a) on the first Rs.! ,000 of Nil.

total income.

(b) on the next Rs.2,500 of ... Five paiJe in

total income.

the rupee.

(c) on the next Rs.2,SOO of ... Nine paise in

total income.

the rupee.

(d) on the next R•.2,500 of .•. Feurt e en

total inCCin:ae.

paise in

the l'Upco.


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###### 2

Rates

(e) on the next Rs.2;500 of ... Seven teen
total income. paise in

the 11upec.

(f) on the next R's.2,500 of .. . Twenty-one

total iac•me. paise in

the rupee.

(g) on the next Rs.5,8[0() ] of Twenty-nine
total income. pai1e in

the rupee.

(h) on the aext Rs.30,000 of Thirty-nine                       -
total iDCOll"e. paise ia

the rupee.                                        -

(i) on [1he ] next [Rs,50,~00 ]of Forty-seven

t•tal income. f)aise in

the rupee.

###### (') J_ [on ][dae ] [next ] [R1.l,tlO,QOO ] Fifty-n in e

of t•tal i•come. paise in

the rupee.

(k) on the balance of total ... Six & y-two
income. paise ia

the rupee.

###### B. In the case of every Company,-

(a) the total income of Ferty-1even
which d8es not exceed paiae in the
Rs.l,@0,000 oB the whole rupee,
of tutal income.

(b) the total income of which Fifty-nine
exceeds Rs.1,00,006 but paise in the ,.
doe1 not exceed rupee.

Rs.2,00,000 on the whole
of total income.

(c) the total income of whfoh Sixty- t w c

exceeds Rs.2,00,000 on paise in the

the whole of total rupee.

income·.

Provided always that,-

(i) no Agricultural Income-tax shall be
payable ori a total Agricultural Income
which dees not exceed Rs.5,000 ~


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3

(ii) in respect of paragraph A, the Agricu,tural

Income-tax payable shall not exceed half
the amount by which the total Agricultural
Income exceeds Rs.5,600 ; and

(iii) ia respect of paragraph B, the Agricultural
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. 1,00,001 in the
case of every Company the total Agri-
cultural income of which exceeds Ra.1,00,000

but does not exceed Rs.2,t0,001.

(b) .R.upees eighty-six thousand increased by
two and half per cent of the excess of the
total Agricultural Inoome over Rs. 2,0t,0()0
in the case of every Company the total
Agricultural income of which exceeds

Rs.2,to,000.

Rates of 3. The rates at which the tax shall b~ levied Assam Act
Assam Pur-

and collected on the purchase of the item• of the XIX of

chase-Tax.

Schedule under the Assa• Purchase Tax Act, 1967 1967.

_1 hall_ be as follows : - .

m respect of items I, 2 and 3 ... Three paise per

,/ rupee value of the

price at which the
taxable goods are
purchased.

m respect of item 4 Two paise per

rupee value of the
price at which the
taxable goods arc
purchased.

GP· (Lee.) No.1/73-3,000-19-4-73.


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