Last assessed income determination affects scheme eligibility; partnership cases excluded if any pending year exceeds threshold.

The instruction clarifies that last assessed income means income last assessed as on the first day of the financial year. For partners' cases, if the returned income for any pending assessment year exceeds the scheme threshold, the partnership case is excluded from the Small Income Scheme. Loans or cash credits up to the indicated small balance-sheet amount may be accepted without further enquiry, that limit having been fixed on the basis of balance-sheet figures.

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