Section 2 of The Assam Finance Act, 1976 — Rates of Agricultural Income-tax

The rates of Agricultural Income-tax for the year beginning on the 1st April, 1976 shall, for the purposes of sections 3 and 6 of the Assam Agricultural Income-tax Act, 1939, be the rates given below:--

A. In the case of every individual, Hindu undivided or joint family, firm and other association of persons (other than companies).-

1. (a)on the first Rs. 1,000 of total income. Nil.
2. (b)on the next Rs. 2,500 of total income. Five paise in the rupee.
3. (c)on the next Rs. 2,500 of total income. Nine paise in the rupee.
4. (d)on the next Rs. 2,500 of total income. Fourteen paise in the rupee.
5. (e)on the next Rs. 2,500 of total income. Seventeen paise in the rupee.
6. (f)on the next Rs. 2,500 of total income. Twenty-one paise in the rupee.
7. (g)on the next Rs. 5,000 of total income. Twenty-nine paise in the rupee.
8. (h)on the next Rs. 30,000 of total income. Thirty-nine paise in the rupee.
   1. (i)on the next Rs. 50,000 of total income. Forty-seven paise in the rupee.
9. (j)on the next Rs. 1,00,000 of total income. Fifty-nine paise in the rupee.
10. (k)on the balance of total income. Sixty-two paise in the rupee. B. In the case of every Company,
11. (a)the total income of which does not exceed Rs. 1,00,000, on the whole of total income. Forty-seven paise in the rupee.
12. (b)the total income of which exceeds Rs. 1,00,000 but does not exceed Rs. 2,00,000, on the whole of total income. Fifty-nine paise in the rupee.
13. (c)the total income of which exceeds Rs. 2,00,000, on the whole of total income. Sixty-two paise in the rupee. Provided always that:--
    1. (i)no Agricultural Income-tax shall be payable on a total agricultural income which does not exceed Rs. 5,000;
    2. (ii)in respect of paragraph A, the Agricultural Income-tax payable shall not exceed half the amount by which the total agricultural income exceeds Rs. 5,000 ; and
    3. (iii)in respect of paragraph B, the Agricultural Income-tax payable shall not exceed the difference between the total agricultural income and the following limits:-
14. (a)rupees fifty-three thousand increased by one percent of the excess of the total agricultural income over Rs. 1,00,000 in the case of every company the total agricultural income of which exceeds Rs. 1,00,000 but does not exceed Rs. 2,00,000;
15. (b)rupees eighty-two thousand increased by two and half per cent of the excess of the total agricultural income over Rs. 2,00,000 in the case of every company the total agricultural income of which exceeds Rs. 2,00,000.