Assam Finance Act, 1941

No: 9 Dated: Aug, 13 1941

THE ASSAM FINANCE ACT, 1941

ASSAM ACT IX OF 1941

    An Act to fix the rates at which agricultural income shalt be taxed under the Assam Agricultural Income Tax Act, 1939.

    Preamble:- WHERBAS it is expedient to fix the rates at which agrieultural income shall be taxed under the Assam Agricultural Income Tax Act, 1939 ;

    It is hereby enacted as follows:-

1. Short Title :- (1) This Act may be called the Assam Finance Act, 1941.

(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, 1941, 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 ex eeds 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)-