Section 5 in Calcutta Thika Tenancy (Acquisition and Regulation) Rules, 1982
5. Payment of annuity under section 8(2).
(1) The annuity payable under sub-section (2) of section 8, which shall not exceed the annual net income derived from the holding, shall be paid for twenty years.(2)The annual net income derived from the holding shall, subject to the provisions of sub-section (3) of section 6, be determined in the following manner :(a)the gross income derived from the holding shall first be determined;(b)upon the determination of the gross income, apart from the deduction from the gross income under sub-section (2) of section 8 of charges on account of management and collection at the rate of twenty per centum of the gross income, there shall be deducted from the gross income revenue and other dues, if any, payable to the State Government and dues, if any, on account of income-tax or other taxes;(c)the balance, if any, after the deductions as aforesaid, shall be the annual net income for the purpose of annuity under sub section (2) of section 8.
