Amendment status not verified — confirm the current text below against the official source.
(1) This Act may be called the Assam Finance Act, 1975. (2) It extends · to the whole of the State of Assam. (3) It shall be deemed to have come into force on the first day of April, 1975. '.2. The rates of Agricultural Income-tax (o:r the year beginning on the 1st April. 1975 shall, for the purposes of sections 3 and 6 of the Assam Agricultural Income Tax Act, 1939, be the rates given below:- A. In the case of every individual, Hind11 undivided or ]oint family, firm and other association of persons (other than companies),- Rates. (a) on the first Rs. 1,000 of total income. Nil (b) on the next . Rs. 2,500 of total income. Five paise in the rupee. is4 THE ASSAM GAZETTE EXTRAORDINARY, MARCH 29. 1915 (c) on the next Rs. 2,500 of total income. (d) on the next Rs. 2,500 of total income. (e) on the next Rs. 2,500 f o_ total income. (f) on the next Rs. 2,500 of total income. (g) on the next Rs. 5,000 of total income (h) on the next Rs. 30,000 of total income. (i) on the next Rs. 50,000 of total income. (j) on the next Rs. 1,00,000 of total income. (k) on the balance uf total in- come. '"'.: B. In the case of every com- pany,- (a) the total income of which does not exceed Rs. 1.00.000, on the whole of total in- come. (b) the total income of which exceeds Rs. 1,00,000 but does not exceed Rs.2,00,000, on the whole of total income. (c) the total income of which exceeds Rs. 2,00,000, on the whole of total income. Provided always that,- -- - - Nine paise in the ruµe~ Fourteen paise in . the ru1-1ee. Seventeen paise in the ruµee. Twenty-one paise in th• rupee. Twenty-nine paise in the rupee. Thirty-nine paise ii1 th~ rupee. Forty-seven paise 111 t.he rupee. Fifty-nine paise in the run~. SixtY-two paise in the runee. Forty-se\ ~n paise rupee. in th~ ,. '' ~· Fifty-nine paise in the rupe~ Sixty-two paise in the rupee. (i) no Agricultural Income-tax .shall be p~y able on a total agricultural income which does not exceed Rs. 5.000 ; (ii) in respect of paragraph A, the Agri- cultural Income-tax payable sh_all not exceed half the amount by which the total agricultural income excE:eds Rs. 5,000; and (iii) in respect of paragraph B, the A~ricul tural Income-tax payable shall not exc~ed the difference between the total 0 " • THE ASSAM GAZETTE, EXTRAORDINARY, MARCH 29, 1975 18S ltatcs of ASiam Pur- llha e Tax. agricul.tural income and the following limits:- (a) rupees fifty-three thousand increased by ~me per cent of the excess of the total agricultural income over Rs. 1,00,·- 000 in the case of every company the total agricultural income of which exce- e<ls Rs. 1,00,000 but does not exceed Rs. 2,00,000 ; (b) rupees eighty-two thousapd increased by two and half per cent of the excess of the total agricultural income ovE>r Rs. 2,00,000 in the case of every com- pany the total agricultural income of which exceeds Rs. 2,00,000.