The Assam Government intends to propose the Assam Agricultural Income Tax (Amendment) Bill, 2021 during its inaugural Budget session in the 15th Assam Legislative Assembly, which will begin on July 12 and would last 15 working days.
The Principal Act, referred to as the Assam Agricultural Income Tax (Amendment) Bill, 1939, has undergone many amendments throughout the years.
The latest change brought to the act was on 30th March, 2017, after the proposed amendment got the assent of the Governor of Assam. After changes brought to the act, it was referred to as the Assam Agricultural Income Tax (Amendment) Bill, 2017.
Through the last amendment in 2017, a new section 4A was inserted after section 4 of the Primary Act.
"4A. Exemption from payment of tax payable under the Act.- Subject to such conditions as it may impose, the State government may, if necessary so to do in the public interest, by notification in the Official Gazette, grant exemption from payment of the whole or any part of the tax payable under the provision of the act: provided that the state government may grant such exemption retrospectively," stated the official notification published for general information.