Amendment status not verified — confirm the current text below against the official source.
[(1) Notwithstanding anything contained in this Act, there shall be charged an additional tax annually at the rate specified in the Schedule II on all residential buildings having the plinth area of and above 278.7 square metres completed on or after the 1st day of April, 1999.] (2) The [additional tax] assessed under this Act shall be paid in advance on or before the 31st day of March, every year.] [(3) There shall be a rebate of twenty per cent of the total [additional tax] for those who pay the same in lump for five years or more.] Inserted by the Kerala Finance Act, 1999 (Act 23 of 1999) (w.e.f. 01/04/1999). Substituted by Act 11 of 2024 published in K.G.Ext. No.1828 dt. 07/06/2024. Prior to the Substitution it read as "(1) Notwithstanding anything contained in this Act, there shall be charged a [additional tax] on the Plinth Area at the rate specified in the Schedule-II, annually on all residential buildings having a plinth area of above 278.7 Square Metres completed on or after the 1st day of April, 1999." Inserted by Kerala Finance Act, 2020 (7 of 2020). (w.e.f. 01/04/2020) Substituted by Act 11 of 2024 published in K.G.Ext. No.1828 dt. 07/06/2024. Prior to the Substitution it read as "luxury tax" Substituted by Act 11 of 2024 published in K.G.Ext. No.1828 dt. 07/06/2024. Prior to the Substitution it read as "Charge of [additional tax]."