THE ASSAM FINANCE ACT, 1943

ASSAM ACT V II OF 1943 THE ASSAM FINANCE ACT, 1943 (Passed by the Assam Legislature) (Received the assent of the Governor on the 2nd July 1943) [Published in the Assam Gazelle of the 7th July 1943] An Act lo fix I he rates at which agricultural income shall be taxed under tlze Assam Agricultural Income-tax Act, 1939. Preamble. WHEREAS it is expedient to fix the rates at which agricultural income shall be taxed under the Assam Agricultural Income-tax Act, 1939 ; it is hereby enarted as follows :- Short title. I. (1) This Act may be called the Assam Finance Act, 1943. (2) It extends to lhe whole of Assam. Rates of 2. The rates of agricultural im.:ome-tax for the Agricultural year beginning ou the l ~t of April 191·3 shall, for the Income-tax. purpose of sections 3 and 6 of the Assam Agricultural Assam Act Income-tax Act, 1939, be the rates given below :- IX of 1939. A.- In the case of every Hindu undivided or J oint 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 exceed'! Rs.S,OOO ; (b) at four pies in the rupee, if the share of a brother is Rs.5,000 or less. B.- In the case of every indiYidual, firm and other association of persons (other than Companies)­ Rate 1. On the first Rs.1,500 of total ~il. income. 2. On the next Rs.3,500 of total income. 3. On the next Rs.S,OOO of total income. 4. On the next Rs.S,OOO of total Nine pies in the rupee . One anna and three pies m the rupee. Two annas in the income. rupee. 5. On the balance of total income Two annas and six pies in the rupee . C.-In the case of every Company- On the whole total income .. . T wo ann as and six pies in the Provided always that­ rupee. (il No agricultural iaoome-tax- mall be pay­ able on a total agricultural income which does not exceed Rs.3,000 and (ii) the agncultural income-tax payable shall in no case exceed half the amount by which the total agriclutural income exceeds Rs.a,ooo. [Price annas 2 or 2d.] A~. p, (Leg.) No, 100/SC-100- 3. 8-1951, scan0001