,, 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, Short title, eictent and commence ment. Rates of Agricultural Income-tax. 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 :-
1. (1) This Act may be called the Assam Finance Act, 1970.
(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.
2. The rates of Agricultural Income-tax for the 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)- ( ·1·
(a) On tlie first' Rs.1,000 of total ... income. Rates NII;
(b) On the next Rs.2,500 of total ... Five paise in tlie rupee. income. Price Rs.0.10 P . (only). / 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 ... income. {e) On the next Rs.2,500 of total ... income.
(f) On the next Rs.2,500 of total income. ~i) On the next Rs.5,000 of total income. fl!) On the next Rs.30,000 of total income.
(i) On the next Rs.50,0'00 of total ... income. (.j) On the next Rs.1,00,000 of total inco1n'e.
(k) On' tbe balance of total income ~. 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
(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 (cJ The total income of which exce d~ Rs.2,00,000. On the whole of . total income
Provided always that,- Fourteen paise in the rupee. Seventeen paise in th~ rupe<~. Twenty-one paise · in ·the rupee. Twenty-nine paise in the rupee. Thirty-nine paise in the rupee. Forty-seven paise in the rupee. Fifty-nine paise iu the rupee. Sixty-two paise in the rupee. Forty-seven paise in the rupee. Fifty-nine paisc in the rupee. Sixty-two paisc in the rupee.
(i) no Agricultural Income-tax shall be payable on a total Agricultural Income which does not exceed Rs.5,000.
(ii) in respect Income-fax . which the and of paragraphs A and B, the Agricultural payable sliall not exceed half the amount bv total Agricultural Income exceeds Rs.5,ooo·; ..... ..
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- ~ates of AMam Pur chase Tax.
( 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.
3. The rates at :which the tax shall be levied and collected on the purchase of Raw Jute and Raw Hides and Skins under the Assam Purchase Tax A'.ct, 1967 shall be tbree paise in ~he rupee. Assam Act XIX of
1967. AGP (Law) 21/70 - 11500-3·2· 71, /