Valuation of agricultural land comprised in coffee, rubber and cardamom plantations-Guidelines regarding

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....ricultural wealth was wholly exempt from wealth-tax. The Finance Act, 1969, extended the levy of wealth-tax to the value of agricultural property with effect from assessment year 1970-71. The Finance (No. 2) Act, 1980, has excluded from the purview of wealth-tax the value of agricultural property other than the value of agricultural land comprised in tea, coffee, rubber or cardamom plantations and....

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....prised in these plantations, the following broad guidelines have been laid down for the valuation of such lands. 3. The agricultural land in the specified plantations may be classified into the following three categories, namely:- (a) lands covered by plants which have started yielding; (b) virgin land which is in the process of being developed and land covered by plants which have not st....

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....y the average of aggregate expenditure for the same years. (b) If any expenditure for self-management is not debited to the accounts, the average aggregate expenditure will be increased by an amount equal to 5% of the average of the gross income from the plantation as an allowance for self-management of the plantation. (c) In computing expenditure, the expenses will be allowed on commercial ....