Assam Finance Act, 1939
No: 10 Dated: Aug, 18 1939
ASSAM FINANCE ACT, 1939
ASSAM ACT X OF 1939
An Act to fix the rate at which agricultural income shall be taxed under the Assam Agricultural Income-tax Act 1939, and to fix the rates at which the sales of articles of luxury shall be taxed under the Assam Sales Tax Act, 1939.
Whereas it is expedient to fix the rates at which agricultural income shall be taxed under the Assam Agricultural Income-tax Act, 1939, and to fix the rates at which the sales of articles of luxury shall be taxed under the Assam Sales Tax Act, 1939; It is hereby enacted as follows:-
1. Short title and extent:- (1) This Act may be called the Assam Finance Act, 1939.
(2) It extends to the whole of Assam.
2. Rates of Agricultural Income-tax:- The rates of agricultural income-tax for the year beginning on the 1st of April, 1939, shall for the purpose of sections 3 and 6 of the Assam Agricultural Income-tax Act, 1939, 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 such share exceeds Rs. 5,000;
(b) at four pies in the rupee, if the share of a brother is Rs. 5,000 or less.
B.-In the case of every individual, firm and other association of persons (other than Companies)-
|
1. |
On the first Rs. 1,500 of total income |
Nil. |
|
2. |
On the next Rs. 3,500 of total income |
Nine pies in the rupee. |
|
3. |
On the next Rs. 5,000 of total income |
One anna and three pies in the rupee. |
|
4. |
On the next Rs. 5,000 of total income |
Two annas in the rupee. |
|
5. |
On the balance of total income |
Two annas and six pies in the rupee. |
C-In the case of every Company-
|
On the whole of total income |
Two annas and six pies in the rupee. |
Provided always that-
(i) no agricultural income-tax shall be payable on a total agricultural income which does not exceed Rs. 3,000, and
(ii) the agricultural income-tax payable shall in no case exceed half the amount by which the total agricultural income exceeds Rs. 3,000.
Motor Cars.
Motor Cycles.
Radio or Wireless Sets.