Assam Taxation Laws (Amendment) Act, 1999

No: 13 Dated: Jun, 01 1999

THE ASSAM TAXATION LAWS (AMENDMENT) ACT, 1999

ASSAM ACT NO. XIII OF 1999

     An further to amend the Assam Taxation (On Specified Lands) Act, 1990 and the Assam Agricultural Income Tax Act, 1939.

    Preamble:- Whereas it is expedient further to amend the Assam Taxation (On Specified Lands) Act, 1990 and the Assam Agricultural Income Tax Act, 1939, in the manner hereinafter appearing ;

    It is hereby enacted in the Fiftieth Year of the Republic of India as follows :-

1. Short title, extent and commencement:- (1) This Act may be called The Assam Taxation Laws (Amendment) Act, 1999.

(2) It shall have the like extent as the respective Acts namely - the Assam Taxation (On Specified Lands) Act, 1990 and the Assam Agricultural Income Tax Act, 1939.

(3) It shall be deemed to have come into force on the 1st day of April, 1999.

CHAPTER - I

Amendment to the Assam Taxation (On Specified Lands) Act, 1990

2. Insertion of new section 12A:- In the Assam Taxation (On Specified Lands) Act, 1990, after section 12, the following .shall be inserted as section 12A, namely :-

12A:- Interest for delayed payment:- If any owner does not pay the full amount of tax as per provision of this Act or the Rules made thereunder, by the date on which it falls due, simple interest at the tate of two percentum per mensem with effect from the 1 st day of the following month shall , ,be payable by him on the amount by which the tax paid falls short Of the tax payable. No interest under this section shall, however, be payable if the amount of tax is paid by the aforesaid due date is not less than ninety percentum of the tax payable."

CHAPTER-II

Amendments to the Assam Assam Agricultural Income Tax Act, 1939.

3. Amendment of section 32:- In the Assam Assam Agricultural Income Tax Act, 1939 hereinafter referred to as the principal Act, for the existing section 32, the following shall be substituted, namely :-

"32. Tax and interest to be calculated to the nearest multiple of rupees ten. -- In the determination of the amount of Ag.ricultural Income Tax, interest or a refund payable under this Act, if the amount is not a multiple of rupees ten, it shall be rounded off to the nearest multiple of ten rupees and, while calculating to achieve this purpose, if the total tax, interest or refund, as the case may be, contains a part of rupees ten which is amounting to rupees five or more, it shall be rounded off to the next higher multiple of rupees ten and, if such part is less than rupees five it shall be ignored."

4. Amendment of section 35:- In the principal Act, section 35B shall be deleted and sections 35C, 35D, 35E, 35F, 350 and 35H shall be renumbered respective y as section 35B, 35C, 35D, 35E, 35F and 35G.