The Assam Finance Act, 1979
Preamble
Registerad, No. A- The Assam Gazette No. 99 Dispur, Tuesday, 3rd April, 1979, 13th Chaitra, 1901 (S. E.) Inder "de GOVERNMENT OF ASSAM ORDERS BY THE GOVERNOR LEGISLATIVE DEPARTMENT NOTIFICATION The 2nd April 1979 No.LGL.43/79/13 .- The following Act of the Assam Legislative Assembly which received the assent of the Governor is hereby published for general information. 690 THE ASSAM GAZETTE, EXTRAORDINARY, APRIL 3, 1979 ASSAM ACT IV OF 1979 (Received the assent of the Governor on 31st March, 1979) THE ASSAM FINANCE ACT, 1979 An Act to fix the rates of Assam Agricultural Income Tax and the Assam Purchase Tax for the financial year 1979-80. Preamble. Whereas it is expedient to fix the Assam Acts rates at which the Assam Agricultural a IX of 1939 Income Tax and the Assam Purchase of 1967. Tax shall be levied and charged under the Assam Agricultural Income Tax Act, 1939 and the Assam Purchase Tax Act, 1967 for the financial year 1979-80. rode It is hereby enacted in the Thirtieth Year of the Republic of India as follows :- Short title, extent and commence- ment.
The Act
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Registerad, No. A- The Assam Gazette No. 99 Dispur, Tuesday, 3rd April, 1979, 13th Chaitra, 1901 (S. E.) Inder "de GOVERNMENT OF ASSAM ORDERS BY THE GOVERNOR LEGISLATIVE DEPARTMENT NOTIFICATION The 2nd April 1979 No.LGL.43/79/13 .- The following Act of the Assam Legislative Assembly which received the assent of the Governor is hereby published for general information. 690 THE ASSAM GAZETTE, EXTRAORDINARY, APRIL 3, 1979 ASSAM ACT IV OF 1979 (Received the assent of the Governor on 31st March, 1979) THE ASSAM FINANCE ACT, 1979 An Act to fix the rates of Assam Agricultural Income Tax and the Assam Purchase Tax for the financial year 1979-80. Preamble. Whereas it is expedient to fix the Assam Acts rates at which the Assam Agricultural a IX of 1939 Income Tax and the Assam Purchase of 1967. Tax shall be levied and charged under the Assam Agricultural Income Tax Act, 1939 and the Assam Purchase Tax Act, 1967 for the financial year 1979-80.
rode It is hereby enacted in the Thirtieth Year of the Republic of India as follows :- Short title, extent and commencement. 1. (1) This Act may be called the Assam Finance Act, 1979. (2) It extends to the whole of the State of Assam. (3) It shall come into force on the 1st day of April, 1979. Rates of 2. The rates of Agricultural Income Agricultural Income Tax. Tax for the year beginning on the 1st day of April, 1979 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)- THE ASSAM GEZETTE, EXTRAORDINARY, APRIL 3, 1979 691 Rates (a) On the first Rs.1,000 of the total income. Nil 10 (b) On the next Rs.5,000 Ten paise in of the total income.
the rupee. (c) On the next Rs-5,000 Fifteen paise in of the total income. the rupee. (d) On the next Rs.10,000 Thirty paise in of the total income. the rupee. (e) On the next Rs-25,000 of the total income. se in the rupee. Forty-five pai- (f) On the next Rs.50,000 of the total income. the rupee. - Sixty paise in Code (g) On the next Rs. 1,00,000 Seventy paise of the total income. in the rupee. (h) On the balance of the Seventy-five total income. paise in the rupee- B. In the case of every company- (a) The total income of Sixty paise in which does not exceed the rupee. Rs-1,00,000 on the whole of total income. (b) The total income Seventy paise of which exceeds in the rupee. Rs·1,00,000 but does not exceed Rs.2,00,000 on the whole of total income. THE ASSAM GAZETTE. EXTRAORDINARY, APRIL 3, 1979 (c) The total income of which Seventy-five exceeds Rs-2,00,000, paise in the rupee.
on the whole of total income. Provided that for the purposes of this section- (i) no Agricultural Income-Tax shall be payable on a total Agricultural Income which does not exceed Rs. 10,000 ; (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. 10,000 in cases where the total agricultural income does not exceed Rs. 12,000 ; and Code (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 forty 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 sixty thousand increased by two and half percent 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. THE ASSAM GAZETTE, EXTRAORDINARY, APRIL 3, 1979 Rates of Assam 3. The rates at which the tax shall Assam Act XIX of Purchase Tax. be levied and collected on the purchase 1967. of the items of the Schedule under the Assam Purchase Tax Act, 1967, shall be as follows :- in respect of item 1 ... Four paise per rupee value of the price at which the taxable goods are purchased. in respect of items 2 ... Three paise per and 3 rupee value of the price at which the taxable goods are purchased. Two pause per de in respect of item 4 ... rupee value of the price at which the taxable goods are purchased.
U. TAHBILDAR, Secretary to the Govt. of Assam, Legislative Department. GAUHATI-Printed and published by the Supdt. i/c., Assam Govt. Printing Press (Ex-Gazette) No. 197-850-250+75-3-4-1979.
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