Section 8(2) in The Calcutta Thika Tenancy (Acquisition And Regulation) Act, 1981
(2)Where the landlord is a corporation or an institution established exclusively for a religious or a charitable purpose, of a public nature, or is a person holding under a public trust or an endowment or other legal obligation exclusively for a public purpose which is religious or charitable, the State shall, for vesting under section 5, pay to such landlord [a perpetual annuity or, where the interest of the landlord is terminable or is liable to be exhausted, an annuity for such number of years] [Words substituted for the words 'an annuity for such number of years' by W.B. Act 21 of 1993 (w.e.f. 18.1.1982).] as may be prescribed, having regard to the extent of the rights of the landlord. Such annuity shall not exceed the annual net income derived from the holding as may by determined by the Controller in the prescribed manner. In determining net annual income the Controller shall deduct from the gross income apart from other sums as may be prescribed, charges on account of management and collection at the rate of twenty per centum of the gross income.
