Assam Taxation Laws (Third Amendment) Act, 1989

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Republic of India as follows: 1. Short title and commencement.--(1) This Act may be called the Assam Taxation Laws (Third Amendment) Act, 1989. (2) It shall come into force at once. 2. Amendment of Assam Act IX of 1939.--In the Assam Agricultural Income-tax Act, 1939,-- (i) in section 8, in sub-section (2), for sub-clause (vii) of clause (f), the following sub-clause shall be substituted, namely:-- "(vii) Any expenditure (not being in the nature of capital expenditure) laid out or expended wholly and exclusively for the purpose of earning or deriving the agricultural incomes, provided that such expenditure, if laid out or expended wholly and exclusively for the purpose of earning income chargeable to tax under the Income-tax Act, 1961....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....sclosing therein his agricultural income as enhanced or reduced as aforesaid. (2) The return or revised return under sub-section (1) shall be submitted in a case, in which the income has been or is revised under the Income-tax Act, 1961, on or before 31st December, 1989, not later than 31st March, 1990, and in any other case, within sixty days of such revision. (3) All the provisions of this Act, except to the extent specified in this section, shall, so far as may be, apply to a return or a revised return submitted under this section as if such return or revised return were submitted under section 19. (4) The rate of tax applicable to the agricultural income disclosed in the return or revised return submitted under this section shall be ....