Amendment status not verified — confirm the current text below against the official source.
In the Kerala Agricultural Income Tax Act, 1991 ( 15 of 1991),-- (1) in section 37,-- in sub-section (4), for the words 'fifteen per cent' the words 'twelve per cent' shall be substituted; (2) in section 39,-- in the first proviso, after the words 'derived from' and before the words 'manufactured tea' the words "rubber, coffee and" shall be inserted; (3) after section 91 the following section shall be inserted, namely; "91A. Appropriation of Payment.-- (1) Where any tax or any other amount due or demanded under the Act is paid by an assessee or other person, the payment so made shall be appropriated first towards interest accrued on such tax or other amount under sub section (4) of Section 37 on such date of payment and the balance available shall be appropriated towards principal outstanding, notwithstanding any request to the contrary by the assessee or any person making such payment. (2) Notwithstanding anything contained in sub-section (1) where any assessee or other person has paid any amount towards tax or any other amount prior to coming into force of this section, no re-computation of such payments shall be made under sub-section (1)"; (4) for the Schedule the following Schedule shall be substituted, namely:-- "SCHEDULE (See section 3) RATES OF AGRICULTURAL INCOME TAX (1) In the case of person other than a company or co-operative society; (a) Where the total agricultural income does not exceed Rs. 40,000 Nil (b) Where the total agricultural income exceeds Rs. 40,000 but does not exceeds Rs. 60,000 10 per cent of the amount by which the total agricultural income exceeds Rs. 40,000 (c) Where the total agricultural income exceeds Rs. 60,000 but does not exceeds Rs. 1,00,000 Rs. 2000 plus 20 per cent of the amount by which the total agricultural income exceeds Rs. 60,000 (d) Where the total agricultural income exceeds Rs. 1,00,000 Rs. 10,000 plus 30 per cent of the amount by which the total agricultural income exceeds Rs. 1,00,000 (2) In the case of a firm, thirty five per cent of the total agricultural income. (3) In the case of a domestic company or co-operative society,-- (a) Where the total agricultural income does not exceed Rs. 25,000 35 per cent of the total agricultural income (b) Where the total agricultural income exceeds Rs. 25,000 but does not exceeds Rs. 1,00,000 40 per cent of the total agricultural income (c) Where the total agricultural income exceeds Rs. 1,00,000 but does not exceeds Rs. 3,00,000 45 per cent of the total agricultural income (d) Where the total agricultural income exceeds Rs. 3,00,000 50 per cent of the total agricultural income (4) In the case of foreign company, eighty per cent of the total agricultural income.".