The Assam Finance Act, 1976

Registered No .- A-12. OTCI TO V TOA MA88A TOA MABBA 3 To asto offt seit of The Assam Gazette oldinsert X61-920 abriu botado ar EXTRAORDIN ARY wollo PUBLISHED BY AUTHORITY viaCode No. 43, Dispur, Wednesday, 31st March, 1976, 11th Chaitra 1898 (S; E.) (6) GOVERNMENT OF ASSAM ORDERS BY THE GOVERNOR LAW DEPARTMENT bni NOTIFICATION ERG The 27th March 1976 DO (B) No.LJL.39/76/5 .- The following Act of the Assam Legislative Assembly which received the assent of the Governor is hereby published for general information. imhoorri Infot 248 . THE ASSAM GAZETTE, EXTRAORDINARY, MAR. 31, 1976 ASSAM ACT V OF 1976 (Received the assent of the Governor of Assam on 26th March 1976) THE ASSAM FINANCE ACT, 1976. An Act to fix the rates of Assam Agricultural Income-tax and the Assam Purchase-tax for the financial 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 Income-tax Act, 1939 and the Assam Purchase Tax Assam Acts Act, 1967 for the financial year 1976-77; IX of 1939 and XIX o f 1967. It is hereby enacted in the Twenty-seventh year of the Republic of India as follows :- Short title, extent and commencement. 1. (1) This Act may be called the Assam Finance Act, 1976. it exterwhole ofde State of Assam. (3) It shall be deemed to have come into force on the first day of April, 1976. Agricultural Income-tax. Rates of 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 Rs. 1,000 of Nil. total income. (b) on the next Rs. 2,500 of Five paise in the rupee. total income. THE ASSAM GAZETTE, EXTRAORDINARY, MAR: 31, 1976 249 (c) on the next total income. Rates. Rs. 2,500 of Nine paise in the rupee. (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. for 30,000 of Thirty-nine paise in the rupee. (h) on the next Rs. 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 income. Sixty-two paise in the rupee. 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. dialruede (b) the total income 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 exceeds Rs. 2,00,000, on the whole of total income. Sixty-two paise in the rupee. 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 respect of paragraph A, the Agricultural Income-tax payable shall not exceed half the amount by which the total agricultural income exceeds Rs.

5,000 ; and 250 THE ASSAM GAZETTE, EXTRAORDINARY, MAR, 31, 1976 (iii) in 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-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. Rates of 3. The rates at which the tax shall be Assam Pur- levied and collected on the purchase of the chase Tax.

items of the schedule under the Assam Purchase Tax Act, 1967 shall be as follows :- baise aCh de Assam Ac t XIX of 1967. in respect 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. 2 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. Gauhati,-Printed and published by the Supdt., i/c., Printing Press, Directorate of Ptg. & Sty., Govt. of Assam (Ex-Gazette) No. 85-1,580+1,500-31-3-1976.