Section 35(3) in The Estate Duty Act, 1953

Central Government Act

(3) Notwithstanding anything contained in sub- section (1) and the Second Schedule, where any property passing on the death of any person consists wholly or in part of agricultural land and the principal value of the estate does not exceed rupees two lakhs, there shall be allowed by way of rebate--

(a) in the case of an estate which consists wholly of agricultural land, a sum representing one- fourth of the estate duty payable; and

1. Subs. by Act 33 of 1958, s. 14, for sub- section (1) (w. e. f. 1- 7- 1960 ). 2 Sub- section (2) omitted by s. 14, ibid. (w. e. f. 1- 7- 1960 ).

(b) in the case of an estate which consists in part only of agricultural land, a sum representing one- fourth of the estate duty payable on that part of the estate which consists of agricultural land, the duty on such part being a sum which bears to the total amount of estate duty the same proportion as the value of the agricultural land bears to the value of the estate. PART VALUE CHARGEABLE PART V VALUE CHARGEABLE