The Assam Finance Act, 1978

{
    "id": 171,
    "slug": "assam-finance-act-1978",
    "title": "The Assam Finance Act, 1978",
    "short_title": "The Assam Finance Act, 1978",
    "act_number": "3",
    "act_year": 1978,
    "act_type": "STATE",
    "location": "Assam",
    "law_status": "overruled",
    "enactment_date": "1978-04-01",
    "description": "The Assam Finance Act, 1978",
    "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\r\nAssam Finance Act, 1978.\r\n(2) It extends to the whole of the\r\nState of Assam.\r\n(3) It shall be deemed to have come\r\ninto force on the 1st day of\r\nApril, 1978. ",
            "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\r\nAgricultural T f h b . . h 1 Income Tax. ax or t e year eg1nmng on t e st\r\n• day of April, 1978 shall, for the purposes\r\nof sections 3 and 6 of the Assam Agricultural Income Tax Act, 1939, be the rates\r\ngiven below :-\r\nA. In the case of every individual,\r\nHindu undivided or joint family, firm\r\nand other association of persons (other\r\nthan companies)-\r\nRates\r\n{a) on the first Rs. 1,000 of Nil\r\ntotal income.\r\n(b) on the next Rs. 2,500 of Five paise in the rupee. total income. \r\n_!_IJt_ ASSAM GAZETTE, EXTRA~RDINARY, APRIL 1, L 978 4e9\r\n(c) on the next Rs. 2,500 of\r\ntotal income.\r\n(d) on the next Rs. 2 ,500 of\r\ntotal income.\r\n(e) on the next Rs. 2,500 of\r\ntotal income.\r\n(f) on the next Rs. 2,500 of\r\ntotal income.\r\n(g) on the next Rs. 5,000 of\r\ntotal income.\r\n(h) on the next Rs. 30,000 of\r\ntotal income.\r\n(i) on the next Rs. 50,000 of\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\nRates\r\nNine paise m the r upee.\r\nFourteen paise in the rupee.\r\nSeventeen paise in the rupee.\r\nTwenty-one ·paise in the rupee.\r\nTwenty-nine paise in the rupee.\r\nThirty·nine paise in the rupee.\r\nFifty-two paise in the rupee.\r\nSixty-five paise m the rupee.\r\nSeventy paise in the rupee.\r\nB. In the case of every company-\r\n(a) The total income of which\r\ndoes not exceed Rs.1,00,000,\r\non the whole of total\r\nincome.\r\n(b) The total income of which\r\nexceeds Rs. l,00,000 but\r\ndoes not exceed\r\nRs. 2,00,000, on the whole\r\nof total income.\r\n(c) The total income of which\r\nexceeds Rs. 2,00,000, on\r\nthe whole of total income.\r\nFifty-two paise in the rupee.\r\nSixty-five paise in the rup ee.\r\nSeventy paise in the rupee.\r\nPTovided that for the purposes of this\r\nsection-\r\n(i) no Agricultural Income-Tax shall\r\nbe payable on a total Agricultural\r\nIncome which does not exceed\r\nRs. 8,000; \r\n\"\r\n410 THE ASSAM GAZETTE, EXTRAORDINARY, APRIL 1, 1978\r\n(ii) .in respect of paragraph A, the\r\nAgricultural Income Tax payable\r\nshall not exceed half the amount\r\nby which the total Agricultural\r\nIncome exceeds Rs. 8,000 ; and\r\n(iii) in respect of paTagraph B, the\r\nAgricultural Income Tax payable\r\nshall not exceed the difference\r\nbetween the total Agricultural\r\nIncome and the following limits:-\r\n(a) rupees foTtY-eight thousand increased by one percent of the\r\nexcess of the total agricultural\r\nincome over Rs. 1,00,000' in the\r\ncase of every company the total\r\nagricultural income of which\r\nexceeds Rs. 1,00,000 but does not\r\nexceed Rs. 2,00,000 ;\r\n(b) rupees seventy thousand increased by two and half percent of the\r\nexcess of the total agricultural\r\nincome' over Rs. 2,00,000 in the\r\ncase of every company the total\r\nagricultural income of which\r\nexceeds Rs. 2,00.000. ",
            "footnote": "",
            "is_definition": false,
            "sort_order": 1
        },
        {
            "number": "3",
            "title": "Section 3 :Rate of Assam Purchase Tax",
            "chapter": null,
            "content": "3. The rates at which the tax shall AMam Act\r\nAssam Pur- . h XIX of 1967.\r\nchase Tax. be levied and collected on the pure ase\r\nof the items of· the Schedule undeT the\r\nAssam Purchase Tax _,Act, 1967, shall be\r\nas follows:-\r\nin respect of item 1. Four paise per rupee value of the\r\nprice at which the taxable goods\r\nare purchased.\r\nin respect of items 2 and 3.\r\nin respect of item 4;\r\nThree paise per rupee value of the\r\nprice at which the taxable goods\r\nare purchased.\r\nTwo paise per rupee value of the\r\nprice at which the taxable goods\r\nare purchase~. ",
            "footnote": "",
            "is_definition": false,
            "sort_order": 2
        }
    ],
    "metadata": {
        "Act ID": "19783",
        "Act Number": "3",
        "Enactment Date": "1978-04-01",
        "Act Year": "1978",
        "Short Title": "The Assam Finance Act, 1978",
        "Department": "Finance (Institutional Finance) Department",
        "Type": "STATE",
        "Location": "Assam"
    },
    "updated_at": "2026-09-29 21:52:15"
}