The Assam Finance Act, 1979

_ .. .... ~ !'_ ~· .. ., ., -, ___ _ ·y, I .. ·- 1tegJst eAlt Ho. ,;:_ ~- .• ·~ . I\. .. , ~· The Assam Gazette ·-.:.--- -·~ EXTRAORDINARY ~~~ml~ PUBLISHED BY AUTHORITY ------------------ " ~ 99 flr<t i_~. Jf~"T~H. 3 ~f~cr, 1979, 13 '5''5, 1901 -t'l No. 99 Dispur, Tuesday, 3rd April, 1979, 13th Cbaitra, 1901 (S. E.) 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 ·..,:~~;: ;;;.~-, Ii>.~ ,J...,. 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 h . A A . l l IX of 1939 Short title, extent and commence­ ment, rates at w ich the ssam gncu tura and XIX 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. It is hereby enacted in the Thirtieth Year of the Republic of India as follows :- 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. ARat~s of 2. The rates of Agricultural Income gncultural T f th b . . h Income Tax. ax Or e year egmmng On t _e 1st day of April, 1979 shall, for the purposes of Sections 3 and 6 of the Assam Agricul­ tural 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) Op the first Rs. I ,000 of the total income. Nil (b) On the next Rs.5,000 Ten paise m of the total income. the rupee. ( c) On the next Rs.5,000 of the total income. Fifteen paise in the rupee· (d) On the next Rs·I0,000 Thirty paise in of the total income. the rupee· (e) On the next Rs.25,000 Forty-five pai- of the total income. se in the ru­ pee. (f) On the next Rs.50,000 of the total income. Sixty paise m the rupee. (g) On the next Rs.1,00,000 Seventy paise of the total mcome. in the rupee· (h) On the balance of the total mcome. Seventy-five paise in the rupee· B· In the case of every company- (a) The total income of which does not exceed Rs.1,00,000 on tne whole of tota l income· (b) The total rncome of which exceeds Rs.I,0!!,000 but does not exceed Rs.2,00,000 on the whole of total rncome· Sixty paise in thf" nipee. Seventy paise in the rupee · / 692 THE ASSAM GAZETTE. EXTRAORDINARY, APRIL ? , 1979 - · ·--.. ~ M•~~-- · - - - - ----- ( c) The total income of which exceeds Rs.2,00,000, on the whole of total mcome. Seventymfive paise in the rupee. 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 (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 bv one per cent of the excess of the total agricultural income over Rs. 1,00,000 in the case of every company the total agricul­ tural 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, F..XTRAORDINARY, APRIL S, 1979 693 Rates of Assam Purc:hase Tu. ·------· --------· 3. The rates at which the tax shall A~f~ jct be levied and collected on the purchase 1967. of the items of the Scheduie under the Assam Purchase Tax Act, 1967, shall be as follows : - in respect of i tern 1 ... in respect of i terns 2 ... and 3 in respect of item 4 ... I ' J . Four paise per rupee value of the price at which the tax­ able goods are purchased. Three paise per rupee value of the price at which the tax­ able goods are purchased. Two paise per rupee value of the price at which the tax­ able 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 (Bit-Gazette) No, 197-850-2.50+ 75-3-4-1979.