Amendment status not verified — confirm the current text below against the official source.
T he rates of Agricultural Income-tax for the year A l1;rIcultural beginning on the 1st April, 1966, shall, for the purpo- ~come-tax. ses of Sections 3 and 6 of the Assam Agricult ural Income-tax Act, 1939, be the rates given below- A. In the cas(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 such 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- (a) On the first Rs.l,500 of total income tb) On the next Rs.3,500 of total income (c) On the next Rs.2,SOO oftotal income (d) On the next Rs.2,SOOof total income (e) On the next Rs.2,500 of total income (f) On the next Rs.2,500 of total income (g) On the next Rs.5,OOO of total income (h) On the next Rs.30,OOOof total income (i) On the next Rs.50,OOO of total income (j) On the next Rs.l,OO,OOO of total income (k) On the balance of total income Nil Four paise in the rupee. ••• Eight paise in the rupee. Twelve paise in the rupee. Fifteen paise in the rupee. Nineteen paise in the rupee. Twenty-seven pai- se in the rupee. Thirty-seven pai- se in the rupee, Forty-five paise in the rupee. Fifty-seven paise in tho rupee. Sixty paise in the rupee. r-- ---.........,.-J - "'- 3 C. In ~the cas of every Company- (a) The total income of which does not exceed Rs.l,OO,OOO. On the whole of total income (b) The total income of which exceeds Rs.I,OO,OOO but does not exceed Rs.2,OO,OOO. Forty-five paise in the rupee. On the whole of total income ••• Fifty-seven paise in the rupee. (c) The total income of which exceeds Rs.2,OO,OOO. On the whole of total 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 of paragraphs A and B, the Agricultural Income-tax payable shall not exceed half the amount by which the total Agricultural Income exceeds Rs.3,OOO; and (iii) in respect of paragraph 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 of the excess of the total Agricultural Income over Rs.I,OO,OOO in the case of every 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 of the excess of the total Agricultural Income over Rs.~ .OO,OOO in the case of every Company the total Agricultural Income of which exceeds Rs.2,OO,OOO. U. TAHBILDAR, Deputy Secy, to the Govt. of Assam" Law Department.