Assam Finance Act, 1946

No: 1 Dated: Apr, 01 1946

THE ASSAM FINANCE ACT, 1946

ASSAM ACT I OF 1946

    An Act to fix the rates at which Agricultural Income shall be taxed unthr the Assam Agricultural Income 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;

    It is hereby enacted as follow:- 

1. Short title and extent:- (1) This Act may be called ,the Assam Finance Act, 1946.

(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 1946, 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 the brother is Rs. 5,000 or less.

B. In the case of every indiTidual, firm and other association of persons (otner than Companies)-