THE ASSAM FINANCE ACT, 1954

{
    "id": 2496,
    "slug": "assam-finance-act-1954",
    "title": "THE ASSAM FINANCE ACT, 1954",
    "short_title": "The Assam Finance Act, 1954",
    "act_number": "IX",
    "act_year": 1954,
    "act_type": "STATE",
    "location": "Assam",
    "law_status": "unknown",
    "enactment_date": "1954-04-03",
    "description": "The Assam Finance Act, 1954",
    "preamble": "",
    "section_label": "Section",
    "sections": [
        {
            "number": "1",
            "title": "An ACT",
            "chapter": null,
            "content": "An\nAct\nto fix the rates at which Agricultural Income shall be taxed under the Assam Agricultural\nIncome-tax Act, 1939",
            "footnote": "",
            "is_definition": false,
            "sort_order": 0
        },
        {
            "number": "2",
            "title": "Preamble",
            "chapter": null,
            "content": "Preamble. WHEREAS it is expedient to fix the rates at which Agricultural\nIncome shall be taxed under the Assam Agricultural Income-tax Act, 1939\n(Assam Act IX of 1939) it is hereby enacted as follows:--",
            "footnote": "Assam Act IX of 1939",
            "is_definition": false,
            "sort_order": 10
        },
        {
            "number": "1",
            "title": "Section 1(1)",
            "chapter": null,
            "content": "1. Short title and extent.-(1) This Act may be called the Assam Finance\nAct, 1954.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 20
        },
        {
            "number": "1",
            "title": "Section 1(2)",
            "chapter": null,
            "content": "(2) It extends to the whole of Assam.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 30
        },
        {
            "number": "2",
            "title": "Section 2",
            "chapter": null,
            "content": "2. The rates of Agricultural Income-tax for the year beginning on the 1st\nApril 1954, shall, for the purpose of sections 3 and 6 of the Assam Agricultural\nIncome-tax Act, 1939 (Assam Act IX of 1939) be the rates given below:-\nRates of Agricultural Income-tax.-",
            "footnote": "Assam Act IX of 1939",
            "is_definition": false,
            "sort_order": 40
        },
        {
            "number": "2",
            "title": "Section 2(A)",
            "chapter": null,
            "content": "A. In the case of every Hindu Undivided\nJoint family-",
            "footnote": "",
            "is_definition": false,
            "sort_order": 50
        },
        {
            "number": "2",
            "title": "Section 2(A)(a)",
            "chapter": null,
            "content": "(a) At the rate applicable under the list of rates contained in para-\ngraph B below to a sum equal to the share of a brother if such\nshare exceeds Rs.6,000;",
            "footnote": "",
            "is_definition": false,
            "sort_order": 60
        },
        {
            "number": "2",
            "title": "Section 2(A)(b)",
            "chapter": null,
            "content": "(b) At four pies in the rupee, if the share of the brother is Rs.6,000 or\nless.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 70
        },
        {
            "number": "2",
            "title": "Section 2(B)",
            "chapter": null,
            "content": "B. In the case of every individual, firm and other Association of persons (\nother than Companies) :-\n(a) On the first Rs.1,500 of total income Rate Nil.\n(b) On the next Rs.3,500 of total income Rate Nine pies in the rupee.\n(c) On the next Rs.5,000 of total income Rate One anna and three pies in the rupee.\n(d) On the next Rs.5,000 of total income Rate Two annas and six pies in the rupee.\n(e) On the next Rs.35,000 of total income Rate Four annas in the rupee.\n(f) On the next Rs.50,000 of total income Rate Five annas in the rupee.\n(g) On the balance of total income Rate Six annas in the rupee.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 80
        },
        {
            "number": "2",
            "title": "Section 2(C)",
            "chapter": null,
            "content": "C. In the case of every Company:-\n(a) the total income of which does not exceed Rs.50,000.\nOn the whole of total income Rate Four annas in the rupee.\n(b) the total income of which does not exceed Rs.1,00,000.\nOn the whole of total income Rate Five annas in the rupee.\n(c) the total income of which exceeds Rs.1,00,000.\nOn the whole of total income Rate Six annas in the rupee.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 90
        },
        {
            "number": "2",
            "title": "Proviso to Section 2(C)(i)",
            "chapter": null,
            "content": "(i) no agricultural income-tax shall be payable on a total agricultural\nincome which does not exceed Rs.3,000 and",
            "footnote": "",
            "is_definition": false,
            "sort_order": 100
        },
        {
            "number": "2",
            "title": "Proviso to Section 2(C)(ii)",
            "chapter": null,
            "content": "(ii) the agricultural income-tax payable shall in no case exceed half the\r\namount by which the total agricultural income exceeds Rs.3,000.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 110
        }
    ],
    "metadata": {
        "Act ID": "195409",
        "Act Number": "IX",
        "Enactment Date": "1954-04-03",
        "Act Year": "1954",
        "Short Title": "The Assam Finance Act, 1954",
        "Department": "Assam Legislative Assembly",
        "Type": "STATE",
        "Location": "Assam"
    },
    "updated_at": "2026-09-29 21:52:02"
}