Amendment status not verified — confirm the current text below against the official source.
Sections 50-A, 50-B, 50-C and 50-D, added by Punjab Act 15 of 1952. contribution on the difference according to the percentage fixed in the scheme : Provided that in estimating the market value of land under clause (a) or under clause (b), the value of buildings or other works erected or in the course of erection on such land shall not be taken into consideration.] Section 50-C 1[50-C. Assessment and collection of betterment contribution. - (1) The betterment contribution due on any property shall, subject to the prior claim thereon of the State Government, be a first charge on it and shall be paid by its owner in half-yearly instalments of one-half of the amount fixed for the year. (2)(a) The State Government may make rules for the assessment and collection of the betterment contribution and subject to such rules and the provisions of sec- tions 74, 81, 84, 85 and 86 of the Punjab Municipal Act, 1911, with such adaptations as are necessary to render these provisions consistent with those of this Act, it shall be assessed and collected in the same manner as if it were a tax imposed by a Municipal Committee in respect of immovable property; (b) Lands and buildings exempt from municipal or State taxation shall also be exempt from any betterment contribution.] Section 50-D 2[50-D. Option of any objecting owner to require the trust to acquire his property. - (1) If the owner of any property, separately registered in the assess- ment books of the trust and assessed to a betterment contribution in any particular year, objects to the amount of such contribution on the ground that the market value estimated under clause (b) of section 50-B is excessive, he shall state the market value which, he contends, is correct, and may, within thirty days of the date on which the determination of his objection or appeal becomes final, by writ- ten notice, require the trust to acquire the property together with any buildings or other works that may exist thereon. (2) The trust shall thereupon either acquire the property or accept the market value as stated by the owner and revise its assessment of the betterment contribu- tion in accordance therewith. (3) In case the trust elects to acquire the property, the compensation payable therefor shall be determined by the prescribed authority under this Act : Provided that the compensation payable for the property, apart from the buildings or other works thereon, shall not exceed the market value stated by the owner under sub-section (1).] Section 51