Amendment status not verified — confirm the current text below against the official source.
Imposition of Taxes and Fees.- (1) The Corporation may, by a resolution, at the time to final adoption of the budget estimates for the next financial year, subject to the provisions of this Act and subject to such limitations and conditions, as may be prescribed by the State Government in this behalf- (a) impose any of the taxes or fees specified in this Act; or (b) increase the rates of taxes or fees already imposed. (2) The resolution as referred to in sub-section (1) shall contain- (a) in case of imposition of any tax or fees, the provisions under which such tax or fee is being imposed, class of persons or description of property to be taxed, the amount or rate of tax or fee being imposed, system of assessment and collection to be adopted and the date from which imposition of such tax or fee shall take effect; (b) in case of increase of rate of any tax or fee, the prevailing rate of such tax or fee, the proposed increased rate of such tax or fee and the date from which increase of rate of such tax or fees shall take effect. (3) The resolution, as passed, shall be conclusive evidence of the imposition of a new tax or fee; or increase of rate of any tax or fee, as the case may be: Provided that if the Corporation decides to have supplementary taxation during the financial year; it may do so from such date as the Corporation may resolve, subject to the provisions of Madhya Pradesh Municipal Corporation Act, 1956 66 | P a g e this Act and subject to such limitation and conditions as may be prescribed by the State Government in this behalf. (4) Nothing contained in this section shall apply to tax mentioned in clause (a) of sub-section (1) of Section132, which shall be charged and levied in accordance with Section 135. 133-A. Power to impose additional stamp duty on transfer of immovable property- (1) The duty imposed by the Indian Stamp Act, 1899 (II of 1899) on instruments of sale, gift and usufructuary mortgage, respectively, of immovable property, shall in the case of instruments affecting immovable property situated within the limits of any corporation and executed on or after the date on which the provisions of this Act are made applicable to such limits be increased by one percentum on the value of the property so situated, or in the case of an usufructuary mortgage on the amount secured by the instrument, as set forth in the instrument. (2) For the purpose of this section, Section 27 of the Indian Stamp Act, 1899 (II of 1899), shall be read as if it specifically required the particulars referred to there in to be set forth separately in respect thereof- (a) property situated in the Corporation area; (b) property not situated in the Corporation area. (3) The State Government shall every year pay to each Corporation from the Consolidated Fund of the State a grant-in-aid approximately equal to the extra duty realized under sub-section (1) in respect of the property situated within the area of each such Corporation after making such deductions on account of cost of collection as the State Government may determine. (4) The State Government may make rules for carrying out the purpose of this Section. 133-B. Power of State Government to require Corporation to impose taxes.- Whenever it appears to the State Government that the balance of Municipal Fund of any Corporation or its revenue is insufficient for the discharge of its duties or obligatory functions imposed upon it under the Act or for meeting the expenditure to be incurred under Section 418 or for the performance of any duties in respect of which it shall have been declared under Section 419 to have committed default, the State Government after giving a notice of fifteen days to the Corporation and to the local public in a prescribed manner may require the Corporation to impose within the Municipal area any tax which it is empowered to impose under section 132 or to enhance any existing rate of tax in such manner or to such extent as the State Government considers fit, and the Corporation shall forthwith proceed to impose or enhance in accordance with the requisition such tax under the provisions of this Chapter, as if a resolution of the Corporation had been passed for the purpose under the provision of this Act. Provided that- (a) the State Government shall take into consideration may objection which the Corporation or any inhabitant of the municipal area may make against the imposition or enhancement of such tax; (b) it shall not be lawful for the Corporation to abandon or modify or to abolish such tax when imposed, without the sanction of the State Government. (c) the State Government may, at any time by notification, abolish or reduce the amount or rate of any tax levied or enhanced under this Section and the levy of the tax or the enhancement except as to arrears thereto for accrued due, shall there upon cease or be modified accordingly. Madhya Pradesh Municipal Corporation Act, 1956 67 | P a g e