Section 7 in The Maharashtra Agricultural Income Tax Act, 1962
7. Computation of tax and allowance under the head "Agricultural Income from Rent or Revenue".
- Agricultural income-tax shall be payable by an assessee under the head "Agricultural Income from Rent or Revenue" in respect of all rent and revenue including any local cess, derived from land referred to in sub-clause (a) of clause (1) of section 2 and all income mentioned in sub-clause (c) of clause (1) of that section, included in his total agricultural income and received by him in the previous year, but subject to the allowance in respect of any expenditure incurred by him in the previous year (not being expenditure in the nature of capital expenditure or personal expenditure) laid out wholly or exclusively for the purpose of deriving such agricultural income from such land.
