Inquiry into profits of agriculture and value of land

(1) As soon as may be after the commencement of this Regulation, the Chief Commissioner may take steps to institute and may cause to be constantly maintained, in accordance with the rules made under this Regulation, and inquiry into the profits of agriculture and into the value of the land used for agricultural and non-agricultural purposes. (2) For the purpose of determining the profits of agriculture, the following matters shall be taken into account in estimating the cost of cultivations, namely :- (a) the depreciation of stock and buildings; (b) the money equivalent of the labour and supervision by the cultivator and his family ; (c) all other expenses usually incurred in cultivation on the land which is under inquiry; and (d) interest on the cost buildings and stock on all expenditure for seed and manure, and on the cost of agricultural operations paid for in cash. (3) The Settlement Officer appointed under Sub- Section (2) of section 46 shall take into consideration the information collected in the course of this inquiry when framing his proposals for assessment rates.