Amendment status not verified — confirm the current text below against the official source.
Rate of bxastc tax-( I) The basic tax charged and levied under secuon 5 shall, subject to the provisions of sub-section (2) and section 7, be at the rate of two rupees pe1· acre per annum. (2) Notwithstanding anything contained 10 sub-sectiOn (1), where a landholder or other person liable to pay basic tax: proves to the 1>atis- faction of the prescribed auth ... rJtY that the gross income from any land was less than ten rupees per acre per annum, the bas1c tax payable on such land shall be at a Jate fixed by the presoribed authority calculated at one-fifth of the gro1.s income from such land : Prov1ded that pendmg the fixatiOn of the rate at which ba:.ic tax 1s payable on any land under this sub-section, the landholder shall be liable to pay basic tax on such land at the rate of two rupees per acre per annum; and, on fixatiOn of the rate of basic tax the excess tax, if any, paid or collected, shall be refunded to the person ent1tled thereto : Provided further that the Government may, havmg regard to the potential productivity of any land used prmc1pally for growmg cocoanut arecanut, peppe1, t~a. coffee, rubber, cadamom or cashew or any other special crop, plant or tree that may be specified by the Government, by notification in the Gazette levy and collect basic tax at the rate of two rupees per acre per annum on such land, notwlthstandmg the fact that such crops, plants or trees had not begun to y1eld or bear and that for the time being no income was made from ,land or that the income made was less than ten rupee~ per acre per annum. Explanatton 1.-For the purposes of this section 'gross income' with reference to any land shall mean the gross income actually made lrom the land or the gros~ income that could be made from the land With due d1hgence, wh1chever is h1gher. Explanatzon 2.-Lands comprised in the same survey or ~ub·d1v1:.1on number and held by the same landholder shall be treated as a sin~le unit for calculating the gross income for the purposes of this section. Explanation 3.-For the purposes of calculating the gro:.S income in money from any land the cash value of the produce from the land shall be commuted into money at the average market rate or such produce for six years immediately preceding the commencement of this Act, (3) An application for fixation of the rate of basic tax under sub- ~ection (2) 6hall be in the form specified by the Government by notifi- cation in the Gazette and 6hall be made to the ptescribed authority wtthin four months from the date of publication of this Act 11: th~ Gazette. • • 235 (4} The prescribed authonty shall, as far as may be piactlcable, pasl. orders on the application within six months from the date of the first appearance of the applicant. (5) The order of the ptescribed authority fixmg the b,mc tax shall be communicated to the landholder concerned and any other person liable to pay the basic tax.