Legal Document View

Unlock Advanced Research with PRISMAI

Integrated with over 4 crore judgments and laws — designed for legal practitioners, researchers, students and institutions

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 0] [Section 66] [Entire Act]

State of Karnataka - Subsection

Section 66(1) in Karnataka Agricultural Income-Tax Act, 1957

(1)Where the total extent of land under plantation crop [held by any person (other than a company) does not exceed one hundred and fifty acres] [x x x] [Omitted by Act 10 of 1987 w.e.f. 1.4.1985.] such person may [subject to such rules as may be prescribed] [Inserted by Act 18 of 1994 w.e.f. 1.4.1994.] apply to the prescribed Officer for permission to compound the agricultural income tax payable by him and to pay in lieu thereof a lumpsum at the rate specified in [in the Tables below] [Substituted by Act 18 of 1994 w.e.f. 1.4.1994.].[[TABLE I] [Inserted by Act 18 of 1994 w.e.f. 1.4.1994 and Substituted by Act 1 of 1996 w.e.f. 1.4.1995.]
Sl.No. Extent of land Rate of lumpsum payable
1. Where the extent of land does not exceed 15acres. Nil.
2. Where the extent of land exceeds 15 acres butdoes not exceed 20 acres Rs. 750/- per acre after 15 acres.
3. Where the extent of land exceeds 20 acres butdoes not exceed 25 acres Rs. 3,750/- plus Rs. 1,000/- per acre after 20acres.
4. Where the extent of land exceeds 25 acres butdoes not exceed 30 acres. Rs. 8,750/- plus Rs. 1,400/- per acre after 25acres.
5. Where the extent of land exceeds 30 acres butdoes not exceed 40 acres. Rs. 15,750/- plus Rs. 1,750/- per acre after 30acres.
6. Where the extent of land exceeds 40 acres butdoes not exceed 50 acres. Rs. 33,250/- plus Rs. 2,250/- per acre after 40acres.]
[TABLE - II [Inserted by Act 5 of 2000 w.e.f. 1.4.2000]
Sl.No. Extent of land Rate of lumpsum payable
1. Where the extent of land exceeds 50 acres butdoes not exceed 100 acres. Rs. 1150 per acre
2. Where the extent of land exceeds 100 acres butdoes not exceed 150 acres. Rs. 1250 per acre.
[Explanation I. - Persons opting for payment of lumpsum tax as per Table II shall pay such tax on the entire holding at the rates specified therein.] [Inserted by Act 5 of 2000 w.e.f. 1.4.2000][Proviso x x x] [Inserted by Act 3 of 1998 w.e.f. 1.4.2000 and Omitted by 4 of 1999 w.e.f. 1.4.1999.]