Section Text
1) For the purposes of preparing compensation- Assessment-roll the net income from an estate shall be computed by deducting from the gross assets of such estate the following, namely:-
(a) any sum which was payable as land revenue or rent including cesses to the State Government or to the immediately superior Intermediary, as the case may be, in respect of the estate for previous agricultural year:
Provided that where rent of a holding comprised in such estate has been commuted into cash rent and there has been no revaluation of the cess payable in respect of that estate, the cess payable under this clause shall be determined on the basis of the commuted rent;
(b) any sum which was payable in respect of such estate as agricultural income-tax in respect of any agricultural income derived from such estate for the previous agricultural years:
(c) any sum which was payable by the Intermediary as income-tax in respect of any income other than royalties from mines derived from such estate for the previous agricultural years:
Provided that the income-tax payable under this clause shall be determined in accordance with the rate of assessment which would have been applicable if the intermediary had no income other than the income derived from such estate;
(d) any sum which was payable as chaukidari-tax or municipal-tax in respect of any building used pr imarily as office or kutchery for the management of such estate or as rest houses for estate servants on duty or golas used primarily for storing rent in kind;
(e) cost of management of such estate at there following rates, namely:- Amount of gross asset Rate (i) Where the gross asset does not exceed Rs.