Registered No.-A-1z:· .. ,.. . The Assam Gazette EXTRAORDINARY . PUBLIRHED BY AUTHOIUTY - - -. --- ·-- . -··------- . ----------·-··---··- - - ------- 'f~ 43, fwt-t~~. 11t~t~, 31 ~ts', 1976, 11 1'''5, I 898 llf<l'" No. 43, Dispur, Wedne~day, 31st March, 1976, 11th Chaltra 1898 (St E.) .. ' - ' - -------- ·-- -- - - ----- GOVERNMENT OF ASSAM ORDERS BY THE GOVERN OR LAW DEPARTMENT NOTIFICATION The 27th March 1976 r· No.LJL.39/76/~.-Tbe following Act of the Assam Leaislative Assembly w~ich received the assent of the Governor is~hcteby published, for general mformation. \. 248 · THE ASSAM GAZB!TB, EXTRAORDINARY, MAR. 31, 1976 '· ....,_ __ -- ASSAM ACT V OF 1976 i b (Received the assent of the Governor of Assam . · .. ... ,. \ .~\. j.- -..-. on 26th l\1arch 1976) THE ASSAM FINANCE ACT, 1976 . An Act to fix the rates of Assam Agricultural Income-tax and the Assam Purchase-tax for the finan cial year 1976-77. Preamble. Whereas it is expedient to fix the rates at which the Assam Agricultural Income-tax and the Assam Purchase-tax shall be levied and charged under the Assam Agricultural Incometax Act, 1939 and the Assam Purchase Tax Assam Acts Act, 1967 for the financial year 1976-77; IX of 1939 and XIX of
1967. It is hereby enacted in the Twenty-seventh year of the Republic of India as follows:- Short title, extent and commence ment. · Rates of Agricultural Income-tax.
1. (1) This Act may be called the Assam Finance Act, 1976.
(2) It extends to the whole of the State of Assam. f3) It shall be deemed to have come into force on the first day of April,
1976. 2· The rates of Agricultural Income-tax for the year beginning on the 1st April, 1976 shall, for the purposes of sections 3 and 6 of the Assam Agricultural 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 -. · · fotal income.
(b) on the next Rs. 1,000 of Nil. Rs. 2,500 of Five paise in the rupee, total income. "'· THE ASSAM GAZETTE, EXTRAORDINARY, MAR• 31, 1976 249 Rates.
(c) on the next: Rs. 2,500 of Nine paise in the rupee. total income.
(d) on the next Rs. 2,500 of Fourteen paise in the rupee. total income.
(e) on the next Rs. 2,500 of Seventeen paise in the rupee. total income.
(f) on the next Rs. 2,500 of Twenty-one paise in the rupee. total income.
(g) on the next Rs. 5,000 of Twenty-nine paise in the rupee. total income.
(h) on the next Rs. 30,000 d Thirty-nine paise in the rupee. total income.
(i) on the next Rs. 50,000 of Forty-seven paise in the rupee. total income.
(j) on the next Rs. 1,00,000 of Fifty-nine paise in the rupee. total income.
(k) on the balance of total in- Sixty-two paise in the rupee. come· B. In the case of every Company,
(a) the total income of which Forty-seven paise in the rupee. does not exceed Rs. 1,00,000, on the whole of total income.
(b) the total incorp.e of which Fifty-nine paise in the rupee. exceeds Rs. 1,00,000 but does not exceed Rs. 2,00,000, on the whole of total income.
(c) the total income of which Sixty-two paise in the rupee. exceeds Rs. 2,00,000, on the whole of total income.
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 reo:pect of paragraph A, the Agri cultural Income-tax payable shall not exceed half the amount by which the total agricultural income exceeds Rs· 5,000 ; and 2~ TH~ ~SSAM GAZErrE, EXTRAORDINARY, MAR. 31, 1976 Rates of Assam Pur chase Tax.
(iii) in respect of paragraph B, the Agri cultural Income-tax payable shall not exceed the difference between the total agricultural income and the following limits:-....
(a) rupees fifty-three thousand increased by one percent 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-two 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 company 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 the items of the schedule under the Assam Pur chase Tax Act, 1967 shall be as follows:- Assam Ac I XIX of
1967. in respecJ of items 1, 2 and 3. Three paise per rupee value of the price at which · the taxable goods are purchased. in respect of item 4. Two paise per rupee value of the price· at which the taxable goods are purchased. U. TAHBILDAR, Secretary to the Government of Assam, Law Department. Oauhati.-Printed and published by the Supdt., i/c., Printing Press, Directorate of Ptg. & Sty., Govt. of A3sam (Ex·Gazette) No. 85-1,580+ 1,500-31 ·3-1976.