Section 9 in The Punjab Land Revenue (Special Assessments) Rules, 1958
9. Calculation of net letting value.
- The net letting value of selected representative sites shall be the amount derived after making the following deductions from the present annual rent of such sites :-(i)fair remuneration at six per cent for the capital invested on building or machinery or both after deducting the depreciation on their value;(ii)house tax;(iii)property tax;(iv)maintenance charges not exceeding one month's gross rent.Explanation - Where no reliable data regarding the cost of building and machinery on a site is forthcoming or is otherwise not available, valuation and depreciation shall be based on the standards of the Public Works Department of the Punjab State.
