. , . ./ ( .¥ '·" 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 ~: 1 967 . Aasam Agricultural Income-tax Act, J939 and the • Short ti tie, extent and commence ment. 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:-
1. (1 ) This Act may be called the Assam Finance Act, 1973.
(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:-.. • •. ·1. ~ ,, . . .· .. A. In the case of every Individual, Hindu undivided or Joint Family, Firm and other Association of persons (other than companies)-
(a) on the first Rs.! ,000 of total income.
(b) on the next Rs.2,500 of ... total income.
(c) on the next Rs.2,SOO of ... total income.
(d) on the next R•.2,500 of .•. total inCCin:ae. Rates Nil. Five paiJe in the r upee. Nine paise in the rupee. Feurt e en paise in the l'Upco. B. 2
(e) on the next Rs.2;500 of ... total income.
(f) on the next R's.2,500 of .. . total iac•me.
(g) on the next R s.5,80() of total income.
(h) on the aext Rs.30,000 of total iDCOll"e.
(i) on 1he next Rs,50,~00 of t•tal income. (') J_ on dae next R1.l,tlO,QOO of t•tal i•come.
(k) on the balance of total .. . income. In the case of every Company,-
(a) the total income of which d8es not exceed Rs. l,@0,000 oB the whole of tutal income.
(b) the total income of which exceeds Rs.1,00,006 but doe1 not exceed Rs.2,00,000 on the whole of total income.
(c) the total income of whfoh exceeds Rs.2,00,000 on Rates Seven teen paise in the 11upec. Twenty-one paise in the rupee. Twenty-nine pai1e in the rupee. Thirty-nine paise ia the rupee. Forty-seven f)aise in the rupee. Fifty-n in e paise in the rupee. Six & y-two paise ia the rupee. Ferty-1even paiae in the rupee, Fifty-nine paise in the rupee. Sixty- t w c 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 ~ • • ,. Rates of Assam Pur chase-Tax. 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.
3. The rates at which the tax shall b~ levied and collected on the purchase of the item• of the Schedule under the Assa• Purchase Tax Act, 1967 1 hall be as follows : - . m respect of items I, 2 and 3 ... ,/ m respect of item 4 Three paise per rupee value of the price at which the taxable goods are purchased. 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. Assam Act XIX of
1967.