Amendment status not verified — confirm the current text below against the official source.
The competent actually derived authority shall first determine the gross income by the holder of the vacant land acquired during th^ period of five consecutive years referred to in clause (a) of sub-section (1) of section 11 including any income from any produ6•e derived from ft♦ltjvrltjpa of the land bring the said {erlod, I Kin. 1) . N. A. I Km. D iiiiinici| at or ct her I ocal authority coiiccrned showsin tiwI ental i ,ai uc t›I siteh J.1nd; I . d he net :i›'ci ‹i uc n n ii u.i1 incoincr efcrred to in clause {ri) of sub- sea.› r ( ') of ,c ciion 1 i shall be sixty ;›er ceni. of the in eraycan ii ual ii oss i ncoinc ›vhich shall be one-fifth of the gross incoiiie duriny the trye consecutive years as dc let mined by thecoinpetent aulliority unrler in,I be taken into considerationin dctcrniining 1 lie i iet :ivcr.igc iin n ii:ilin come buts hall be deductcdinlicu of the cxpcnditure ii hicli the liol‹ler ‹›fl fie vacant Iaud » ‹stild noi iii.il ly inciir for pitynncnl ‹›f irny i;is to I lic iu iin i‹i JuriI oi ot hei 1‹›c•i1 itiit li‹›i ily :in il l i›r co 11 ccl ion :i ii‹l 50 (/rban Land (Ceiling and Regui(it ion) Act, 1976 [Schedl ule 11]