THE ASSAM FINANCE ACT, 1946

-- . , ., ASSAM ACT I OF 1946 ...,, ' Preamble . ' Short title tt and extent. Rates of Agricul­ tural In­ come-tax. THE ASSAM FINANCE ACT, 1946 [Passed by the Assam Legi!lature) LPublished in the Assam Gazette Extraordinary of the lst April 1946) An M to .ftx the rates at which Agricultural Income shall be tued unthr the Assam Agricultural Income-tu Act, 1939. WHEREAS it is expedient to fix the rates at which Agricul­ tural Income shall be taxed under the Assam Agricultural Income-tax A~.:t, 1939 ; it is hereby enacted as follows:- ' 1. (I) This Act may be called ,the Assam Finance Act, 1946. (2) It extends to the whole of Assam. 2. The rates of Agricultural Income-tax for the year beginning on the 1st of April 1946, shall for the purpose of A51am Act Sections 3 and 6 of the Assam Agricultural Income-tax Act, 1939, IX of 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 contain­ ed in paragraph B below to a sum equal to the share of a brother if such share exceeds Rs. 5,000 ; (b) at four pies in the rupee, if the share of the brother is Rs. 5,000 or less. Price 1 anna or 1 d. ' 2 B. In the case of every indiTidual, firm and other associa­ tion of persons (otner than Companies)- Rate I. On the first Rs. 1,500 of total income Nil. %. On the next Rs. 3,500 of total income Nine pies in the rupee. 3. On the next Rs. 5,000 of total income One anna and three pies · in the rupee. -l. On the next Rs. 5,000 of total income Two annas in the 5. On the balance of total income c. In the case of every Company­ On the whole total income Provided always that- rupee. Two annas and six pies in the rupee. Two annas and six pies in the rupee. ' (i) No agricultural income-tax shall be payable on a total agricultural income which does not exceed Rs. 3,000; and (ii) the agricultural ineome-tax payable shall in · no case exceed half the amount by which the total agtic\Jltural income · exceeds Rs. 3,000. A.G.P. (Leg.) No.!-750+30-3-6-19". "'t/'~--- L . .. f