The Assam Finance Act, 1970

{
    "id": 167,
    "slug": "assam-finance-act-1970",
    "title": "The Assam Finance Act, 1970",
    "short_title": "The Assam Finance Act, 1970",
    "act_number": "16",
    "act_year": 1970,
    "act_type": "STATE",
    "location": "Assam",
    "law_status": "overruled",
    "enactment_date": "1970-10-01",
    "description": "The Assam Finance Act, 1970",
    "preamble": "",
    "section_label": "Section",
    "sections": [
        {
            "number": "1",
            "title": "Section 1. (1) This Act may be called the Assam Finance",
            "chapter": null,
            "content": "Act, 1970. \n(2) It extends ta, the whole of the State of \nAssam . \n(3) It shall be deemed to have come into \nforce on the first day of April, 1970.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 0
        },
        {
            "number": "2",
            "title": "Section 2. The rates of Agricultural Income-tax for the",
            "chapter": null,
            "content": "year beginning on the 1st April, \n1970, shall, for the purposes · of Sec­\ntions 3-and 6 of the Assam Agricul­\ntural Income-taoc Act, 1939, be the \nrates given below :-\nA. In the case of every Hindu undivided or Joint family-\n(a) At the rate applicable, under the list of rates contained \nin paragraph B below to a sum equal to the share of a \nbrother, if such share exceeds Rs.6,000 ; \n(b) at two paise in the rupee, if the share of a brother is \nRs.6,000 or less. \nB. In the case of every individual, Firm and other Association \nof persons (other than companies)-\n( ·1· \n(a) On tlie first' Rs.1,000 of total ... \nincome. \nRates \nNII; \n(b) On the next Rs.2,500 of total ... Five paise in tlie rupee. \nincome. \nPrice Rs.0.10 P. (only) . \n/ \n\n2 \nRates \n(c), On the next Hs.2,500 of total . .. Nine paise in the rupee. \nincome. \n(d) On the next Rs.2,500 of total ... \nincome. \n{e) On the next Rs.2,500 of total ... \nincome. \n(f) On the next Rs.2,500 of total \nincome. \n~i) On the next Rs.5,000 of total \nincome. \nfl!) On the next Rs.30,000 of total \nincome. \n(i) On the next Rs.50,0'00 of total ... \nincome. \n(.j) On the next Rs.1,00,000 of total \ninco1n'e. \n(k) On' tbe balance of total income \n~. In the case of every Company- · \n(a) The total income of which \ndoes not exceerl Rs.1,00,000. \nOn the whole of total income \n(b) '.fhe tqta) inco14e of w hic;h \nexceeds Rs.1,00,000 hut does \nnot exceed Rs.2,00,000. \nOn tlie whole of total income \n(cJ The total income of which \nexce d~ Rs.2,00,000. \nOn the whole of . total income \nProvided always that,-\nFourteen paise in the \nrupee. \nSeventeen paise in th~ \nrupe<~. \nTwenty-one paise · in \n·the rupee. \nTwenty-nine paise in \nthe rupee. \nThirty-nine paise in \nthe rupee. \nForty-seven paise in \nthe rupee. \nFifty-nine paise iu \nthe rupee. \nSixty-two paise in the \nrupee. \nForty-seven paise in \nthe rupee. \nFifty-nine paisc in the \nrupee. \nSixty-two paisc in the \nrupee. \n(i) no Agricultural Income-tax shall be payable on a total \nAgricultural Income which does not exceed Rs.5,000. \n(ii) in respect \nIncome-fax \n. which the \nand \nof paragraphs A and B, the Agricultural \npayable sliall not exceed half the amount bv \ntotal Agricultural Income exceeds Rs.5,ooo ·; ..... \n\n.. \n3 \n.... \n(iii) m respect of paragraph C, the Agricultural Income-tal: \npayable shall not exceed the difference between the total \nAgricultural Income and lhe following limits-\n~ates of \nAMam Pur­\nchase Tax. \n( a) Rupees fifty-five thousand increased by one per \ncent of the excess of the total Agricultural Income \nover Rs.1,00,000 in the case of every Company the \ntotal Agricultural Income of which exceeds \nRs.1,00,000 but does not exceed Rs.2,00,000 ; \n(b) Rupees eighty-six thousand increased by two and \nhalf per cent of the excess of the total Agricultural \nIncome over Rs.2,00,000 in the case of every Com­\npany the total Agricultu ral Income of which \nexceeds Rs.2,00,000.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 1
        },
        {
            "number": "3",
            "title": "Section 3. The rates at :which the tax shall be levied",
            "chapter": null,
            "content": "and collected on the purchase of \r\nRaw Jute and Raw Hides and Skins \r\nunder the Assam Purchase Tax A'.ct, \r\n1967 shall be tbree paise in ~he \r\nrupee. \r\nAssam Act \r\nXIX of",
            "footnote": "",
            "is_definition": false,
            "sort_order": 2
        }
    ],
    "metadata": {
        "Act ID": "197016",
        "Act Number": "16",
        "Enactment Date": "1970-10-01",
        "Act Year": "1970",
        "Short Title": "The Assam Finance Act, 1970",
        "Department": "Finance (Institutional Finance) Department",
        "Type": "STATE",
        "Location": "Assam"
    },
    "updated_at": "2026-09-29 21:52:15"
}