ASSAM FINANCE ACT, 1956

Act No. 10 of 1956

12th April, 1956

An Act to fix the rates at which Agricultural Income shall be taxed under the Assam Agricultural Income-tax Act, 1939. Whereas it is expedient to fix the rates at which Agricultural Income shall be taxed under the Assam Agricultural Income-tax Act, 1939 (Assam Act IX of 1939); It is hereby enacted in the Seventh Year of the Republic of India as follows:--

S.1 Short title and extent

(1) This Act may be called the Assam Finance Act, 1956.

(2) It extends to the whole of Assam.

S.2 Rates of Agricultural Income-tax

The rates of Agricultural Income-tax for the year beginning on the 1st April 1956, shall, for the purpose of sections 3 and 6 of the Assam Agricultural Income-tax Act, 1939 Assam Act IX of 1939) be the rates given below:--

A. In the case of every Hindu Undivided or Joint family:--

• (a) At the rate applicable, under the list of rates contained in paragraph B below, to a sum equal to the share of a brother if such share exceeds Rs. 6,000.
• (b) At four pies in the rupee, if the share of a brother is Rs. 6,000 or less.

B. In the case of every Individual, firm and other Association of persons (other than Companies):--