Amendment status not verified — confirm the current text below against the official source.
The rates of Agricultural Income-tax for the Agricultural y~ar beginning on the 1st April, 1971, shall for Income-tax. the purposes of Sections 3 & 6 of th <:: Assam Agri· cultural 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)- Rates (a) On the first Rs.1 ,000 of total Nil. income. (b } On the next Rs. ~ .soo of total Fi ;e paise in the l'upee. income. (cl On the income. next Rs.2,500 of total Nine paise In the rupee. (d) On the next Rs.2,500 of total Fourteen paise in the rupee, income. (ej On the next Rs.2,500 of total Seventeen paise in the rupee, income. 116 Rates {f) On the next Rs.2,500 of total Twenty-one paise in the rupee • income. {g) On the next Rs. 5, ooo· of total Twenty-nine paise in the income. rupee. (h) On the next R~ 30,000 of total T hirty-nine paise in the rupee. income . . (i) CD (k) On the next Rs.50,000 of total income. Forty-seven paise in the rupee. On the next Rs.l,00 000 of total income. On the balanct of total income Fifty-nine paise in the rupee. Sixty-two paise in the rupee. B. In the case of every Company- (a) The total income of which does not exceed Rs. l ,00 000. (b) On the whole of total income. The total i. come of which exceeds Rs.l ,00,COO hut does not exceed Rs.2,00,000 On the whole of total income. (c) 'lhe total income of which txceeds Rs.2,00,000. On the whole of total income. Provided always that - Forty-seven rupee. Fifty-nine rupee. Sixty-two rupee. paise in the paise in the paise in the (i) no Agricultural Income-tax shall be payable on a total Agricul- tu ral Income which does not exceed R~.5,000 ; (ii) in respect of paragraph A, the Agricultural Income-tax payable shall not exceed half th~ amount by which the total Agricultur&l Income exceed Rs.5,000 ; anJ (iii) in respect of paragraph B, the Agricultural Income-tax payable shall not exceed the differer.Ce between the total Agricul tural Income and the following limits: - (a) Rupees fifty-five thousand increased by one per cent excess of the total Agricultural Income over Rs.1,o:i,OOO case of every Company the tot..:.! Agricultural Income of exceeds Rs. l,00,000 but does "10t exceed Rs.2,00.000. of the in the which (b) Rupees eighty-six thOl.isand incmre<l by two and half per cent of the excess of the total Agricultural Income over Rs 2,00,000 in the case of every Comp2·1y the total A~ricultural Income of which exceeds Rs.2.00,000. Rates P of