Vidhi Codex

The Jammu and Kashmir Agricultural Income Tax Act, 1962

The Jammu and Kashmir Agricultural Income Tax Act, 1962

Tax196231 sections6 chapters

The Jammu and Kashmir Agricultural Income Tax Act, 1962, establishes a legal framework for levying tax on agricultural income derived from land within the state. It applies to individuals, Hindu undivided families, firms, and associations of persons earning income from agricultural activities. The Act defines how this income is calculated, allowing for specific deductions such as land revenue, interest on capital, and depreciation. It mandates the filing of returns, outlines the assessment process by authorities, and provides mechanisms for appeals and revisions. For the ordinary citizen, this law ensures that significant agricultural earnings are taxed, while providing exemptions for smaller incomes to protect subsistence farmers.

Start reading →Read full ActSections

Chapter I PRELIMINARY →

  1. 1Short title, extent and commencement
  2. 2Definitions

Chapter II Chapter II →

  1. 3Charge of agricultural income tax
  2. 4Provided further that such tax shall not be payable by a Hindu undivided family whose total agricultural income of the previous year does not exceed rupees eight thousand.
  3. 5Exclusion of income from trust etc
  4. 6Agricultural income accruing in the State to persons residing outside the State
  5. 6AApplication for registration

Chapter III ASSESSMENT AND EXEMPTION →

  1. 7Return of income
  2. 8Assessment
  3. 8APayment by way of composition
  4. 8BAssessment after partition of a Hindu undivided family
  5. 9Penalty for concealment of income
  6. 10Provided further that no prosecution for an offence against this Act shall be instituted in respect of the same facts on which a penalty has been imposed under this section.
  7. 11Appeal against assessment under this Act
  8. 12Revision
  9. 13Communication to assessee of order passed under section 11 or 12
  10. 14Income escaping assessment
  11. 15Provided that the tax shall be charged at the rate at which it would have been charged if such income had not escaped assessment or full assessment as the case may be.
  12. 16Power to take evidence on oath

Chapter IV RECOVERY OF TAX AND PENALTY →

  1. 17Tax how payable
  2. 18Penalty for default
  3. 18ANotice for payment of arrears of tax etc
  4. 19Recovery of penalties and time for recovery of any sum payable under this Act

Chapter V OFFENCES AND PENALTIES →

  1. 20False verification
  2. 21Proceedings to be taken at the instance of the Commissioner
  3. 22Failure to furnish return or to supply information
  4. 23Bar of suits in Civil Courts

Chapter VI MISCELLANEOUS →

  1. 24Appearance by authorised representative
  2. 25Receipt to be given
  3. 26Power to make rules

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