The Assam Finance Act, 1973

{
    "id": 169,
    "slug": "assam-finance-act-1973",
    "title": "The Assam Finance Act, 1973",
    "short_title": "The Assam Finance Act, 1973",
    "act_number": "4",
    "act_year": 1973,
    "act_type": "STATE",
    "location": "Assam",
    "law_status": "repealed",
    "enactment_date": "1973-04-03",
    "description": "The Assam Finance Act, 1973",
    "preamble": "",
    "section_label": "Section",
    "sections": [
        {
            "number": "1",
            "title": "Section 1. short title extent and commencement",
            "chapter": null,
            "content": "1. (1 ) This Act may be called the Assam\r\nFinance Act, 1973.\r\n(2) It extends to the whole of the State of\r\nAssam.\r\n(3) It shall be deemed to have come mto\r\nforce on .the first day of April, 1973. ",
            "footnote": "",
            "is_definition": false,
            "sort_order": 0
        },
        {
            "number": "2",
            "title": "Section 2 : Rate of Agricultural Income Tax",
            "chapter": null,
            "content": "The rates of Agricultural Income-tax for the\r\nAgricultural year beginning on the 1st April, 1973 shall, for the\r\nIncome·tax. purposes of sections 3 and 6 of the Assam Agricultural Income-tax Act, 1939, be the rates given below:- ..\r\n•\r\n•. ·1.\r\n~ ,, . . .· ..\r\nA. In the case of every Individual, Hindu undivided\r\nor Joint Family, Firm and other Association of\r\npersons (other than companies)-\r\n(a) on the first Rs.! ,000 of\r\ntotal income.\r\n(b) on the next Rs.2,500 of ... total income.\r\n(c) on the next Rs.2,SOO of ... total income.\r\n(d) on the next R•.2,500 of .•.\r\ntotal inCCin:ae.\r\nRates\r\nNil.\r\nFive paiJe in\r\nthe r upee.\r\nNine paise in\r\nthe rupee.\r\nFeurt e en\r\npaise in\r\nthe l'Upco. \r\nB.\r\n2\r\n(e) on the next Rs.2;500 of ...\r\ntotal income.\r\n(f) on the next R's.2,500 of .. .\r\ntotal iac•me.\r\n(g) on the next Rs.5,80() of\r\ntotal income.\r\n(h) on the aext Rs.30,000 of\r\ntotal iDCOll\"e.\r\n(i) on 1he next Rs,50,~00 of\r\nt•tal income.\r\n(') J_ on dae next R1.l,tlO,QOO\r\nof t•tal i•come.\r\n(k) on the balance of total ... income.\r\nIn the case of every Company,-\r\n(a) the total income of\r\nwhich d8es not exceed\r\nRs.l,@0,000 oB the whole\r\nof tutal income.\r\n(b) the total income of which\r\nexceeds Rs.1,00,006 but\r\ndoe1 not exceed\r\nRs.2,00,000 on the whole\r\nof total income.\r\n(c) the total income of whfoh\r\nexceeds Rs.2,00,000 on\r\nRates\r\nSeven teen\r\npaise in\r\nthe 11upec.\r\nTwenty-one\r\npaise in\r\nthe rupee.\r\nTwenty-nine\r\npai1e in\r\nthe rupee.\r\nThirty-nine\r\npaise ia\r\nthe rupee.\r\nForty-seven\r\nf)aise in\r\nthe rupee.\r\nFifty-n in e\r\npaise in\r\nthe rupee.\r\nSix & y-two\r\npaise ia\r\nthe rupee.\r\nFerty-1even\r\npaiae in the\r\nrupee,\r\nFifty-nine\r\npaise in the\r\nrupee.\r\nSixty- t w c\r\npaise in the\r\nthe whole of total rupee.\r\nincome·.\r\nProvided always that,-\r\n(i) no Agricultural Income-tax shall be\r\npayable ori a total Agricultural Income\r\nwhich dees not exceed Rs.5,000 ~\r\n•\r\n•\r\n,. \r\nRates of\r\nAssam Purchase-Tax.\r\n3\r\n(ii) in respect of paragraph A, the Agricu,tural\r\nIncome-tax payable shall not exceed half\r\nthe amount by which the total Agricultural\r\nIncome exceeds Rs.5,600 ; and\r\n(iii) ia respect of paragraph B, the Agricultural\r\nIncome-tax payable shall not exceed the\r\ndifference between the total Agricultural\r\nincome and the following limits: -\r\n(a) Rupees fifty-five thousand increased by one\r\nper cent of the excess of the total Agricultural Income over Rs. 1,00,001 in the\r\ncase of every Company the total Agricultural income of which exceeds Ra.1,00,000\r\nbut does not exceed Rs.2,t0,001.\r\n(b) .R.upees eighty-six thousand increased by\r\ntwo and half per cent of the excess of the\r\ntotal Agricultural Inoome over Rs. 2,0t,0()0\r\nin the case of every Company the total\r\nAgricultural income of which exceeds\r\nRs.2,to,000. ",
            "footnote": "",
            "is_definition": false,
            "sort_order": 1
        },
        {
            "number": "3",
            "title": "Section 3: Rate of Assam Purchase tax",
            "chapter": null,
            "content": "The rates at which the tax shall b~ levied\r\nand collected on the purchase of the item• of the\r\nSchedule under the Assa• Purchase Tax Act, 1967\r\n1 hall be as follows : - .\r\nm respect of items I, 2 and 3 ... ,/\r\nm respect of item 4\r\nThree paise per\r\nrupee value of the\r\nprice at which the\r\ntaxable goods are\r\npurchased.\r\nTwo paise per\r\nrupee value of the\r\nprice at which the\r\ntaxable goods arc\r\npurchased. ",
            "footnote": "",
            "is_definition": false,
            "sort_order": 2
        }
    ],
    "metadata": {
        "Act ID": "19734",
        "Act Number": "4",
        "Enactment Date": "1973-04-03",
        "Act Year": "1973",
        "Short Title": "The Assam Finance Act, 1973",
        "Department": "Finance (Institutional Finance) Department",
        "Type": "STATE",
        "Location": "Assam"
    },
    "updated_at": "2026-09-29 21:52:15"
}