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Chapter V
ASSESSMENT OF COMPENSATION AND ACQUISITION OF INTERESTS OF RENT-RECEIVERS AND OF CERTAIN OTHER INTERESTS
Amount of the total net income in the Province | Rate of compensation payable |
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(a) Where the net income so computed does not exceed Rs. 500. | Ten times such net income. |
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(b) Where the net income so computed exceeds Rs. 500 but does not exceed Rs. 2,000. | Eight times such net income or the maximum amount under item (a) above increased by the excess of the net income over the maximum net income under item (a) above, whichever is greater. |
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(c) Where the net income exceeds Rs. 2,000 but does not exceed Rs. 5,000. | Seven times such net income or the maximum amount under item (b) above increased by the excess of the net income over the maximum net income under item (b) above whichever is greater. |
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(d) Where the net income exceeds Rs. 5,000 but does not exceed Rs. 10,000. | Six times such net income or the maximum amount under item (c) above increased by the excess of the net income over the maximum net income under item (c) above, whichever is greater. |
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(e) Where the net income exceeds Rs.10,000 but does not exceed Rs. 25,000. | Five times such net income or the maximum amount under item (d) above increased by the excess of the net income over the maximum net income under item (d) above, whichever is greater. |
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(f) Where the net income exceeds Rs. 25,000 but does not exceed Rs. 50,000. | Four times such net income or the maximum amount under item (e) above increased by the excess of the net income over the maximum net income under item (e) above, whichever is greater. |
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(g) Where the net income exceeds Rs. 50,000 but does not exceed Rs.1,00,000. | Three times such net income or the maximum amount under item (f) above increased by the excess of the net income over the maximum net income under item (f) above, whichever is greater. |
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| (h) Where the net income exceeds Rs. 1,00,000. | Two times such net income or the maximum amount under item (g) above increased by the excess of the net income over the maximum net income under item (g) above, whichever is greater. |
(2) In the case where the rent-receiver is the holder of a temporary tenure or of any other tenancy of a temporary duration, the compensation payable to such rent-receiver in respect of the acquisition of the interest of such rent-receiver shall be paid out of the compensation payable under this Chapter to the immediately superior landlord of such rent-receiver for the acquisition of the interests of such superior | |
landlord; and the Revenue-officer shall apportion the compensation between the holder of such temporary tenure or tenancy and his immediately superior landlord subject to rules made under this Act; and in making the apportionment the Revenue-officer shall take into consideration the unexpired period of the temporary tenure or tenancy; and | |
(3) In the case where the net income or any portion of the net income in respect of any estate, tenure, holding or tenancy wholly or partly held under wakf, wakf-al-al-aulad, debutter or any other trust or legal obligation has been dedicated and applied exclusively to charitable or religious purposes without any reservation of pecuniary benefit for any individual, the compensation payable for the acquisition of the interests of any rent-receiver in respect of the net income or the portion of the net income so dedicated and applied shall, instead of being assessed under clause (1) be assessed in the prescribed manner as a perpetual annuity equal to such net income or portion of the net income, as the case may be. | |
