The Assam Finance Act, 1972

{
    "id": 168,
    "slug": "assam-finance-act-1972",
    "title": "The Assam Finance Act, 1972",
    "short_title": "The Assam Finance Act, 1972",
    "act_number": "12",
    "act_year": 1972,
    "act_type": "STATE",
    "location": "Assam",
    "law_status": "overruled",
    "enactment_date": "1972-04-26",
    "description": "The Assam Finance Act, 1972",
    "preamble": "",
    "section_label": "Section",
    "sections": [
        {
            "number": "1",
            "title": "Section 1 :Short Title, extent and commencement",
            "chapter": null,
            "content": "(1) This Act may be called the Assam Finance act of 1972\r\n(2) It extends to the whole of the State of Assam.\r\n(3) It shall be deemed to have come into force on\r\nthe first day of April, 1972. \r\n",
            "footnote": "",
            "is_definition": false,
            "sort_order": 0
        },
        {
            "number": "2",
            "title": "Section 2: Rate of Agricultural Income Tax",
            "chapter": null,
            "content": "2.The rates of Agricultural Income-tax for theyear beginning on the 1st April, 1972 shall for the nc m · purposes of Sections 3 and 6 of the Assam Agricul-.\r\ntural Income-tax Act, 1939, be the rates given\r\nbelow~-\r\nA. In the case of every individual, Hindu undivided cir Joint Family, Firm and other Association\r\nof persons (other than companies).\r\n(a) On the first Rs.11000 of\r\ntotal income.\r\n(b) On the next Rs.2,500 of\r\ntotal incE>me.\r\n(c) On the next Rs.2,500 of\r\ntotal income.\r\nRates\r\nNil\r\nFive paise in the rupee.\r\nNine paise in the rupee.\r\nI <v-\r\n2\r\nRates\r\n(d) On' the next Rs.2,500 of Fourteen paise in the rupee.\r\ntotal income.\r\n{e) On the next Rs.2,500 of Seventeen paise in the rupee.\r\ntotal income.\r\n(f) On th~ next Rs.2,500 of Twentf•Onc paise in the rupee.\r\ntotal 'income,\r\n(g) On the next Rs.5,000 of Twenty-nine pa:se in the rupee.\r\ntutal inc.ome .\r\n{h) On the next Rs.30,000 of Thirty-nine pai~e in the rupee.,\r\ntotal income.\r\n(i) On the next Rs.50,000 of Forty•3evr.n paise m th~ rupee.\r\ntotal income.\r\n(j) On the next Rs.1,00,000 of\r\ntotal ' income.\r\n{k) On the balance of total\r\nincome.\r\nFifty-nine paise in •he rupee.\r\nSixty-two paise in the rupet\".\r\nB. In the case of every Company,- •\r\n{a) Total income of which does\r\nnot exceed Rs.1,00,000.\r\nOn the wh·)le of total income\r\n(b) The total income of which\r\nexceeds Rs. 1,00,000 but\r\ndoes not e x c e e d\r\nRs.2,00,000.\r\nOn the whole of total income\r\n(c) The total income of which\r\nexceeds Rs.2,00,000.\r\nOn the whole of total income\r\nPravided always that,-\r\nForty~1even paise in the rupee,\r\nFifty•nine pa ise in! the rupee.\r\nSiKty-two paise in the rupee.\r\n(i) no Agricultural Income•tax shall be payable on a total Agricultural lncome which\r\ndo~ not exceed Rs.S,000 j ",
            "footnote": "",
            "is_definition": false,
            "sort_order": 1
        }
    ],
    "metadata": {
        "Act ID": "197212",
        "Act Number": "12",
        "Enactment Date": "1972-04-26",
        "Act Year": "1972",
        "Short Title": "The Assam Finance Act, 1972",
        "Department": "Finance (Institutional Finance) Department",
        "Type": "STATE",
        "Location": "Assam"
    },
    "updated_at": "2026-09-29 21:52:15"
}