This Act sets agricultural income-tax rates for Assam and says it starts at once.
~- -; The 5th April 1966 No.LJL.8/66/4.- The followingAct of the Assam LegislativeAssembly which received the assent ofthe Governor ishereby publishedfor general information. ASSAM ACTXI OF 1966 (Receivedthe assent of the Governor on the 4th April, 1966) THE ASSAM FINANCE ACT, 1966 Published in the Assam Gazette, Extraordinary, dated the 5th, April, 19€6 An Act to fis:the rates at which Agricultllral Income shall be t axed under the Assam AgriculturalIncome-taxAct, 1939 Preamble. Whereasit is expedient to fix the rates at which Assam Act Agricultural Income shall be taxed under the Assam IXof 19311 Agricultural Income-tax Act, 1939 ; 2 .. Itis hereby enacted in the Seventeenth Year of the Republic of India as follows:- Short title, 1. (1) This Act may be called the Assam extentand FinanceAct, 1966. commence ment. (2) It extendsto the whole of the State of Assam• .(3) It shall come into force at once. Ra.tcs. of 2. The rates of Agricultural Income-tax for theyear Al1;rIcultural beginning on the 1st April, 1966, shall, for the purpo ~come-tax. sesofSections3 and 6 of the Assam Agricultural Income-tax Act, 1939, be the ratesgiven below- A. In the cas(ofevery 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 ifsuch share exceeds Rs.6,OOO; (b) At two paise in the rupee, if the share of a brother is Rs.6,OOO or less. P. In the case of every individual, Firm and other Association of persons (other than companiesj-e- Rate (a) On the first Rs.l,500 oftotal income Nil t b) On the next Rs.3,500 of total income Four paise in the rupee. (c) On the next Rs.2,SOO oftotal income ••• Eight paise in the rupee. (d) On the next Rs.2,SOOof total income Twelve paise in the rupee. (e) On the next Rs.2,500 oftotal income Fifteen paise in the rupee. (f) On the next Rs.2,500 of total income Nineteen paisein the rupee. (g) On the next Rs.5,OOO of total income Twenty-seven pai se in the rupee. (h) On the next Rs.30,OOOof total income Thirty-seven pai sein the rupee, (i) On the next Rs.50,OOO oftotal income Forty-five paise in the rupee. (j) On the next Rs.l,OO,OOO oftotal income Fifty-seven paise in tho rupee. (k) On the balance of total income Sixty paise in the rupee. r-- ---.........,.-J - 3 "'- C. In~the cas ofevery Company- (a) The total incomeof which does not exceed Rs.l,OO,OOO. On the whole oftotal income Forty-five paise in the rupee. (b) The total income of which exceeds Rs.I,OO,OOO but does not exceed Rs.2,OO,OOO. On the whole oftotal income ••• Fifty-seven paise in the rupee. (c) The total income ofwhich exceeds Rs.2,OO,OOO. On the whole oftotal income Sixty'paise in the rupee. Provided always that,- (i) no Agricultural Income-tax shall be payable on a total Agricultu ral Income which does not exceed Rs.3,OOO ; (ii) in respect ofparagraphs A and B, the Agricultural Income-tax payable shall not exceed halfthe amount by which the total Agricultural Income exceeds Rs.3,OOO;and (iii) in respect ofparagraph C, the Agricultural Income-tax payable shall not exceed the difference between the total Agricultural Income and the following limit'!:- (a) Rupees fifty-five thousand increased by one per cent ofthe excess of the total Agricultural Income over Rs.I,OO,OOO in the case ofevery Company the total Agricultural Income of which exceeds Rs.I,OO,OOO but does not exceed Rs.2,OO,OOO; (b) Rupees eighty-six thousand increased by two and half per cent ofthe excess of the total Agricultural Income over Rs.~.OO,OOO in the caseofevery Company the total Agricultural Income of which exceeds Rs.2,OO,OOO. U.TAHBILDAR, Deputy Secy,to the Govt. of Assam" Law Department.