The Assam Finance Act, 1977

{
    "id": 170,
    "slug": "assam-finance-act-1977",
    "title": "The Assam Finance Act, 1977",
    "short_title": "The Assam Finance Act, 1977",
    "act_number": "2",
    "act_year": 1977,
    "act_type": "STATE",
    "location": "Assam",
    "law_status": "overruled",
    "enactment_date": "1977-03-30",
    "description": "The Assam Finance Act, 1977",
    "preamble": "",
    "section_label": "Section",
    "sections": [
        {
            "number": "1",
            "title": "Section 1 :Short Title ,commencement and extent",
            "chapter": null,
            "content": "( 1) This Act may be called the Assam finance Act 1977\r\n(2 ) It extends to the whole of the State of\r\nAssam.\r\n, (3) It shall be deemed to have come into\r\nforce on the 1st day of April, 1977. ",
            "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 the year beginning on the 1st day of April, 1977 shall, for the purposes of sections 3 and 6 of the\r\nAssam Agricultural Income Tax Act, 1939, be the\r\nrates given below : -\r\nA. In the case sf every individual, Hindu\r\nundivided or joint family, firm and other associa- tion of persons (other than companies)-\r\n(a) on the first Rs. 1,000 of total\r\nincome.\r\nRates;\r\nNil.\r\n(b) on the next Rs. 2,500 of total . Five paise in the . rupee:\r\nincome.\r\n(c) on the next Rs. 2,500 of total\r\nincome.\r\n' (d) on the next Rs. 2,500 of total\r\nincome.\r\nNine pa1se m the rupee.\r\nFourteen paise in the rupee.\r\n• \r\n• \"\"\r\nTHE ASSAM GAZETTE~ EXTRAORDINARY, MARCH 31, 1977 25J\r\nRates.\r\n(e) on the next Rs. 2,500 of total\r\nincome.\r\nSeventeen paise in the rupee.\r\n(f) on the next Rs. 2,500 of total\r\nincome.\r\nTwenty-one paisein the rupee.\r\n(g) on the next Rs. 5,000 of total\r\nincome.\r\n(h) on the next Rs. 30,000 of total\r\nincome.\r\nTwenty-nine\r\nrupee.\r\nThirty-nine\r\nrupee.\r\npaise in the\r\npaise IU the\r\n,. ' I 11 on the next Rs 50,000 of total\r\nincome.\r\nFifty-two paise in .the rupee.\r\n(j) on the next RCJ. 1,00,0.00 of total . Sixty-five paisc in the rupee.\r\nincome.\r\n(k) on the balance of total income. Seventy paise in the- rupee.\r\nB. In the case of every company-\r\n(a) The total income of which does Fifty-two paise in the rupee.\r\nnot exceed Rs. 1,00,000, on the\r\nwhole of total income,\r\n(b) The total income of which exceeds\r\nRs. 1,00,000 but does not\r\nexceed Rs: 2,00,000, on the\r\nwhole of total income.\r\n(c) The total income of which exceeds\r\nRs. 2,00,000, on the whole of\r\ntotal income.\r\nProvided always that :-\r\nSixty-five paise in the rupee.\r\nSeventy paise in the rupee.\r\n(i) no Agricultural Income-Tax shall be\r\npayable on a total Agricultural Income\r\nwhich does not exceed Rs. 8,000;\r\n(\\i) in respect of paragraph A, the Agricultu- . ral Income Tax payable · shall not exceed\r\nhalf the amount by which the total\r\nAgricultural Income exceeds Rs.8000; and\r\n(iii) in respect of paragraph B, the Agricultural Income Tax payable shall not exceed\r\nthe difference between the total Agricultural Income and the following limits :-\r\n---- ·' \r\n252 I.HE A5-SAM GAZETTE, EXTRAORO'INARY', MARC'H 3'(, 1'971\r\n(a) rupees forty-eight thousand increased by one\r\npercent of the excess of the total agricultural income rover Rs. 1,00,000 in the case\r\nof every company I the total agricultural\r\nincome of which exceeds Rs. 1,00,000 but\r\ndoes not exce d Rs.,2,00,QOO;\r\n(b) rupees seventy thousand increased by two\r\nand half percent of the excess of the total\r\nagricultural income over Rs. 2,00,000 in the\r\ncase of every company the total agricultural income of which exceeds Rs.2,00,000,  ",
            "footnote": "",
            "is_definition": false,
            "sort_order": 1
        },
        {
            "number": "3",
            "title": "Section 3:Rate of Purchase Tax",
            "chapter": null,
            "content": "3.The rates at which the tax shall be levied Assam ACT and collected on the purchase of the items of the XIX of\r\nchase Tax. S h 1967. chedule under t e Assam Purchase Tax Act, 1967,\r\nshall be as follows : ..:....\r\nin respect of item. 1.\r\nin respect of items 2 and 3.\r\nin respect of item 4.\r\nFour paise per rupee value of the\r\nprice at which the taxable goods\r\nare purchased.\r\nThree paise per rupee value of the\r\nprice at which the tax.able goods\r\nare purchased.\r\nTwo paise per rupee value of the\r\nprice at which the taxable goods\r\nare purchased. ",
            "footnote": "",
            "is_definition": false,
            "sort_order": 2
        }
    ],
    "metadata": {
        "Act ID": "19772",
        "Act Number": "2",
        "Enactment Date": "1977-03-30",
        "Act Year": "1977",
        "Short Title": "The Assam Finance Act, 1977",
        "Department": "Finance (Institutional Finance) Department",
        "Type": "STATE",
        "Location": "Assam"
    },
    "updated_at": "2026-09-29 21:52:15"
}