The Assam Finance Act, 1968
Preamble
Registered No.A 12 The Assam Gazette EXTRAORDINARY PUBLISHED BY AUTHORITY No.59. Shillong, Wenesday, June 12, 1968, 22nd Jyaistha, 1890 (S.E ) GOVERNMENT OF ASSAM ORDERS BY THE GOVERNOR LAW DEPARTMENT NOTIFICATION The 11th June 1968 No.LJL.14/68/7 .- The following Act of the Assanı Legislative Assembly which received the assent of the Governor is hereby published for general information. ASSAM ACT XV OF 1968 Inde xe dode (Received the assent of the Governor on the 7th June 1968) THE ASSAM FINANCE ACT, 1968 [Published in the Assam Gazette Extraordinary, dated the 12th June, 1968] An Act to fix the rates of Assam Agricultural Income-tax and the Assam Purchase-tax for the financial year 1968-69 Preamble Whereas it is expedient to fix the rates at which Assam Act the Assam Agricultural Income-tax and the Assam IX of 1939 Purchase-tax shall be levied and charged under the of 1967. and XIX Assam Agricultural Income-tax Act, 1939 and the Assam Purchase-tax Act, 1967 for the financial year 1968-69 ; 308 THE ASSAM GAZETTE, EXTRAORDINARY, JUNE 12, 1968 It is hereby enacted in the Nineteenth Year of the Republic of India as follows : -- extent and Short title, 1. (1) This Act may be called the Assam Finance Act, 1968. (2) It extends to the whole of the State of commence- ment. Assam. (3) It shall be deemed to have come into force on the first day of April, 1968. Rates of 2. The rates of Agricultural Income-tax for the Agriculture year beginning on the 1st April 1968, shall, for the al Income. tax. purposes of sections 3 and 6 of the Assam Agricul- tural Income-tax 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) -- Rate (a) On the first Rs.1,500 total in- ... Nil come. (b) On the next Rs.3,500 of total ... Four paise in income. the rupee. (c) On the next Rs.2,500 of total Eight paise in income. the rupee. (d) On the next Rs.2,500 of total Twelve paise income. in the rupee. (e) On the next Rs.2,500 of total income. the rupee. Fifteen paise in (f) On the next Rs.2,500 of total . Nineteen paise income. in the rupee. (g) On the next Rs.5,000 of total Twenty-seven income. paise in the rupee. (h) On the next Rs.30,000 of total .. Thirty-seven income. paise in the rupee. (i) On the next Rs.50,000 of total ... Forty-five paise income. in the rupee. (j) On the next Rs.1,00,000 of ... Fifty-seven paise total income. in the rupee. (k) On the balance of total in -... Sixty paise in come. the rupee. Pour LaCode THL JAM GAZETTE, EXTRAORDINARY, JUNE 12, 1968 309 C. In the case of every Company- (a) The total income of which does not exceed Rs.1,00,000. On the whole of total income Forty-five paise in the rupee. 'b) The total income of which exceeds Rs.1,00,000 but does not exceed Rs.2,00,000. On the whole of total .. Fifty-seven paise income. in the rupee. (c) The total income of which exceeds Rs.2,00,000. On the whole of total ... Sixty paise in income. 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 ; (i) in respect of paragraphs A and B, the Agricul- tural Income-tax payable shall not exceed half the amount by which the total Agricul- tural Income exceeds Rs.3,000 ; and (iii) in respect of paragraph C, 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 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 ei
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.
Registered No.A 12 The Assam Gazette EXTRAORDINARY PUBLISHED BY AUTHORITY No.59. Shillong, Wenesday, June 12, 1968, 22nd Jyaistha, 1890 (S.E ) GOVERNMENT OF ASSAM ORDERS BY THE GOVERNOR LAW DEPARTMENT NOTIFICATION The 11th June 1968 No.LJL.14/68/7 .- The following Act of the Assanı Legislative Assembly which received the assent of the Governor is hereby published for general information. ASSAM ACT XV OF 1968 Inde xe dode (Received the assent of the Governor on the 7th June 1968) THE ASSAM FINANCE ACT, 1968 [Published in the Assam Gazette Extraordinary, dated the 12th June, 1968] An Act to fix the rates of Assam Agricultural Income-tax and the Assam Purchase-tax for the financial year 1968-69 Preamble Whereas it is expedient to fix the rates at which Assam Act the Assam Agricultural Income-tax and the Assam IX of 1939 Purchase-tax shall be levied and charged under the of 1967.
and XIX Assam Agricultural Income-tax Act, 1939 and the Assam Purchase-tax Act, 1967 for the financial year 1968-69 ; 308 THE ASSAM GAZETTE, EXTRAORDINARY, JUNE 12, 1968 It is hereby enacted in the Nineteenth Year of the Republic of India as follows : -- extent and Short title, 1. (1) This Act may be called the Assam Finance Act, 1968. (2) It extends to the whole of the State of commencement. Assam. (3) It shall be deemed to have come into force on the first day of April, 1968. Rates of 2. The rates of Agricultural Income-tax for the Agriculture year beginning on the 1st April 1968, shall, for the al Income. tax. 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 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) -- Rate (a) On the first Rs.1,500 total in- ... Nil come. (b) On the next Rs.3,500 of total ... Four paise in income. the rupee. (c) On the next Rs.2,500 of total Eight paise in income. the rupee. (d) On the next Rs.2,500 of total Twelve paise income. in the rupee. (e) On the next Rs.2,500 of total income. the rupee. Fifteen paise in (f) On the next Rs.2,500 of total . Nineteen paise income. in the rupee. (g) On the next Rs.5,000 of total Twenty-seven income. paise in the rupee. (h) On the next Rs.30,000 of total .. Thirty-seven income. paise in the rupee. (i) On the next Rs.50,000 of total ... Forty-five paise income.
in the rupee. (j) On the next Rs.1,00,000 of ... Fifty-seven paise total income. in the rupee. (k) On the balance of total in -... Sixty paise in come. the rupee. Pour LaCode THL JAM GAZETTE, EXTRAORDINARY, JUNE 12, 1968 309 C. In the case of every Company- (a) The total income of which does not exceed Rs.1,00,000. On the whole of total income Forty-five paise in the rupee. 'b) The total income of which exceeds Rs.1,00,000 but does not exceed Rs.2,00,000. On the whole of total .. Fifty-seven paise income. in the rupee. (c) The total income of which exceeds Rs.2,00,000. On the whole of total ... Sixty paise in income. 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 ; (i) in respect of paragraphs A and B, the Agricultural Income-tax payable shall not exceed half the amount by which the total Agricultural Income exceeds Rs.3,000 ;
and (iii) in respect of paragraph C, 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 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 Company the total Agricultural Income of which exceeds Rs.2,00,000. 3. The rates at which the tax shall be levied and Rates of Assam Pur- collected on the purchase of Raw Jute and Raw Hides chase Tax. and Skins under the Assam Purchase Tax Act, 1967 shall be three per centum ad valorem.
Assam Act XIX of 1967. B. SARMA, Secy. to the Government of Assam, Law Department. SHILLONG-Printed and published by the Superintendent, Assam Government Press (Fx. Gazette} No.117-1,323+-550-12-6-68. Code
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