Amendment status not verified — confirm the current text below against the official source.
Rates of Agricultural Income-tax.-The rates of Agricultural Income- tax for the vear beginning on the 1st April 1950, shall, for the purpose of sec- tions 3 and , 6 of the Assam Agricultural Income-tax Act, 1939 (Assam Act IX . of 19g9), 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 contained in paragraph B below to a sum equal to the share of a brother if l'uch share exceeds Rs.6,000 ; (b) At four pies in the rupee. if the share of the brother is Rs.6,000 less. B. In the case of every individual. firm and other associl:!tion of {other than companies) :- (a) On the first Rs.l,500 of total in.some (b) On the next Rs.3,500 of total income .. (c) On the next Rs.5,000 of total income , . (d) On the next Rs.5,000 of total income (e) On the balance of total income C. In the case of every Company:- On the whole of total income Provided always that-- Rate Nil Nine pies in the rupee. One anna and three in the rupee. Two annas and· six pies the rupee. Four annas in the rupee. Four annas in the rupee. (i) no agricultural income-tax sliall be payable · on a total !ncome which does not exceed Rs..3,000 and (ii) the agricultural income-tax payable shall in no case exceed half the amount hy which the total agricultural income exceeds Rs.3.000. *For statement of Objects and Reasons see "Assam Gazette, Extraordinary". dated 13th March 1950, page 104.