Section 9(3) in The Kerala Agricultural Income Tax Act, 1991
(3)In computing the total agricultural income of a person there shall be deducted from his agricultural income any sum not exceeding 20 percent of the total agriculture income of such assessee deposited by him in the previous year out of his agricultural income in the Fund established under the Investment Deposit Scheme intended to rejuvenate and modernise plantations notified by the Government in this behalf subject to the conditions that,(i)the replantation or infilling allowance admissible for the year and subsequent years under the rules shall be set off against such amount deposited under the scheme until it is fully so set off,(ii)withdrawals from the deposit shall for investment in landed property in accordance with the scheme in this behalf, and(iii)if any withdrawals from the deposit is not utilised for the purpose for which it is sanctioned it shall be treated as agricultural income of the year of the withdrawal and assessed accordingly.Explanation. - Where the deposit under the sub-section is made on or before the due date for filing of return for the year to which the deduction relates, the deposit shall be deemed to have been made during the previous year.
