Amendment status not verified — confirm the current text below against the official source.
56.8 EXEMPTIONS Lease, executed in the case of a culti- vator and for the purposes of culti- vation (including a lease of trees for the production of food or drink) without the payment or delivery of any fine or premium when a definite- :term is expressed and such terms does not exceed one year or when the average annual rent reserved dose not «exceed one hundred rupees. * In this exemptidn a lease for the pur- poses of cultivation shall include a iease of land for cultivation together with a homestead or tank. Explanation.-——When a lease undertakes to pay any recurring charge such as Government revenue, the landlord’s share of lease, or the owner’s share of municipal rates or taxes which is by law recoverable from the lessor, the amount so agreed to be paid by lease shall be deemed to be part of the .rent. * >1: LETTER OF CREDIT, that is to say any instrument by which one person authorises another to give credit to person in whose favour it is drawn. LETTER OF GUARANTEE (See agreement No. 5) LETTER OF LICENCE, that is to say, any agreement between adebtor and his creditors that the letter shall for a specified time, suspend their claims and allow the debtor to carry on business at his own discretion. * >1: MORTGAGE-DEED, not being an agreement relating to Deposit of Title. deeds, pawn or Pledge (No. 6) Bottor- {my Bond (No. 16) mortgage, Mort- gage of a crop (No. 41) Rasdentia Bond .(No. 56) or Security Bond, (No. 57}- TWenty paise. Twentyfour rupees. 16 ’ 1 2