Amendment status not verified — confirm the current text below against the official source.
Independence (Adaptation of Bengal and Punjab Acts) Order, s3ubtituted by the existing clause (d) by Punjab Act No. XVI of 1954, Secion 2, eSubstituted by Punjab Act No. 34 of 1957, section 2. This Act shall be deemed to have come into force on Ist April, 1957. Ascertainment of annual valye, LE [1940 : Pb, Act ‘ 54 URBAN MO ey TAX Xy ortions ther, and lands or por feop excluslvey sques, templ 2h 5% dhaply includm%“,war as, hospita Sl’c' isp NSarjag °rph";' salas,gulms houses, drinking wate, f°llntai : nages, a}es for the treatment and cape Of o0t mfirmal':i public burial or burning 8royny i rfiitraglaces for the disposal of th deag, ™ . . . following buildings a4 | e antonsihereof shall ot be. diarend to used_ exclusively for public yorship or for pyyt ::llsmrity within the meaning of thjg Sectiop, namely :— hich : ildi or lands on whic any trade ] btullll;(}g;%: is carried on unless the rent g, ed from such buildings or lands ig applied exclusively to religious purposes of Slich public charitable institutions as may be preg ibed : . (i) bufliiings or lands in respect of Wwhich rent j derived, and such rent is no applied exc)y. sively to religious purposes or to sych public charitable institutions as may be prescribeg : and (g) such buildings and lands used for the purpose of a factory as may be prescribed. o v ¢ exempt in whole or jn part, from the payment of the tax any person or class of persons or any Property or description of Property for sych period as it may think fit, and May renew gyucf exemption as often as 1t may consider to be necessary, : S. The annyg| value of ap ildi 1l be . A val y land or building sha : asclenrfiamed by « Stimating tpe 8ross annyal 1'entg21t which :uc fanq or bulldmg together with its appurtenances and YOar to year, Jgs. '°3%Onable b expected to let fro _ lSul:sti_tutecl for g — 4 4y \——_/ tion (Chandlgarh) (Adue':gtawmdS H State Govery, » : -organis® ment Punjab Re ) 1968, tion of I ays on State ang cl?,{c'i‘fimt S tjccis) Ordet 1940: Pb. Act XVIL] URBAN IMMOVABLE PROPERTY TAX 55 (a) any allowance not exceeding twenty per centum of the gross annual rent as the assessing authority in each particular case may consid.r reasonable rent for the furniture let with any such building ; (b) an allowance of[fifteen] per centum for the cost of repairs and for all other expenses necessary to maintain such building in a state to command such gross annual rent. Such deduction shall be calculated on the balance of the gross an- nual rent after the deduction, if any, under clause (a); and (¢) any land revenue actually paid in respect of such building or land: Provided that in calculating the annual value of any building or land under this section the value of any machinery in such building or on such land shall be ex- cluded.