The Assam Finance Act, 1947
Preamble
ASSAM ACT I OF 1947 THE ASSAM FINANCE ACT, 1947 (Passed by the Assam Legislature) [Received the assent of the Governor on the 27th March 1947] [ Published in the Assam Gazette, Extraordinary of the 1st April 1947.] An Act to fix the rates at which agricultural income shall be taxed under the Assam Agricultural Income-Tax Act, 1939. Preamble. WHEREAS it is expedient to fix the rates at which agri- cultural income shall be taxed under the Assam Agricul- tural Income-Tax Act, 1939 ; it is hereby enacted as follows :- Short title. 1. (1) This Act may be called the Assam Finance Act, 1947. (2) It extends to the whole of Assam. Rates of agricultural income-tax.
The Act
The numbering on the scan does not hold together, so the text is shown whole rather than split into sections. Splitting it wrongly would file one section's words under another's number.
ASSAM ACT I OF 1947 THE ASSAM FINANCE ACT, 1947 (Passed by the Assam Legislature) [Received the assent of the Governor on the 27th March 1947] [ Published in the Assam Gazette, Extraordinary of the 1st April 1947.] An Act to fix the rates at which agricultural income shall be taxed under the Assam Agricultural Income-Tax Act, 1939. Preamble. WHEREAS it is expedient to fix the rates at which agricultural income shall be taxed under the Assam Agricultural Income-Tax Act, 1939 ; it is hereby enacted as follows :- Short title. 1. (1) This Act may be called the Assam Finance Act, 1947. (2) It extends to the whole of Assam. Rates of agricultural income-tax. 2. The rates of agricultural income-tax for the year beginning on the 1st of April 1947, shall for the purpose of Sections 3 and 6 of the Assam Agricultural Income-Tax Act, Assam Act 1939, be the rates given below :- IX ot 1939.
A. In the case of every Hindu undivided or joint family :- Price 1 anna or 1d. (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.5,000; (b) at four pies in the rupee, if the share of the brother is Rs.5,000 or less. B. In the case of every individual, firm and other association of persons (other than Companies) :- Rate Nil. (a) On the first Rs.1,500 of total income (b) On the next Rs.3,500 of total Nine pies in the income rupee. (c) On the next Rs.5,000 of total One anna and income three pies in the rupee. (d) On the next Rs. 5,000 of total income Two annas in the rupee. (e) On the balance of total income Two annas and six pies in the rupee. C. In the case of every Company :- On the whole total income Two annas and six pies in the rupee.
Provided always that- (i) No agricultural income-tax shall be payable on a total agricultural income which does not exceed Rs.3,000, and (ii) the agricultural income-tax payable shall in no case exceed half the amount by which the total agricultural income exceeds Rs.3,000. A. G. P. (Leg.) No. 1-750+25-15-5-1947.
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