The Assam Finance Act, 1969

Preamble

Registered No.A-12. The Assam Gazette EXTRAORDINARY PUBLISHED BY AUTHORITY No.33 Shillong, Friday, May 16, 1969, 26th Vaisakha, 1891 (S. E.) GOVERNMENT OF ASSAM ORDERS BY THE GOVERNOR LAW DEPARTMENT NOTIFICATIONS The 15th May 1969 No.LJL.41/69/2 .- The following Act of the Assam Legislative Assembly which received the assent of the Governor is hereby published for general information. ASSAM ACT XII OF 1969 [ Received the assent of the Governor on the 8th May 1969 ] THE ASSAM FINANCE ACT, 1969 (Published in the Assam Gazette Extraordinary, dated the 16th May 1969) An Act to fix the rates of Assam Agricultural Income-tax and the Assam Purchase-tax for the financial year 1969-70. Preamble. Whereas it is expedient to fix the rates at which the Assam Act Assam Agricultural Income-tax and the Assam IX of 1939 Purchase-tax shall be levied and charged under the 1967. and XIX of Assam Agricultural Income tax Act, 1939 and the Assam Purchase-tax Act, 1967 for the financial year 1969-70 ; It is hereby enacted in the Twentieth Year of the Republic of India as follows :- Short title 1. (1) This Act may be called the Assam Finance Act, 1969, extent and commence- ment. (2) It extends to the whole of the State of Assam. (3) It shall be deemed to have come into force on the first day of April, 1969. Rates of 2. The rates of Agricultural Income-tax for the year Agricultural beginning on the 1st April, 1969, shall, for the purposes Income-tax. 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)- (a) On the first Rs.1,500 total income. de uns lacode (b) On the next Rs.3,500 of total income. Four paise in the rupee. (c) On the next Rs.2,500 of total income. Eight paise in the rupee. (d) On the next Rs.2,500 of total income. Twelve paise in the rupee. (e) On the next Rs.2,500 Fifteen paise in of total income. the rupee. (f) On the next Rs.2,500 of total income. Nineteen paise in the rupee. (g) On the next Rs.5,000 of total income. Twenty-seven paise in the rupee. Rates (h) On the next Rs.30,000 Thirty-seven paise of total income. in the rupee. (i) On the next Rs.50,000 of total income. the rupee. Forty-five paise in (j) On the next Rs.1,00,000 of total income. Fifty-seven paise in the rupee. (k) On the balance of total Sixty paise in the income. rupee. 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 Forty-five paise in income. 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 in income. the rupee. (c) The total income ot which exceeds Rs.2.00,000- On the whole of total Sixty paise in the income. rupee. IndiaCode Provided always that,- (i) no Agricultural Income-tax shall be payable on a total Agricultural Income which does not exceed Rs.3,000 ; (ii) in respect of paragraphs A and B, the Agri- cultural Income-tax pavable shall not exceed half the amount by which the total Agricultural Income excceds 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 Agri- Cultural Income over Rs.1,00.000 in the case of every Company the total Agricultu- ral 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 th

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Type to filter. 5 sections.

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