Amendment status not verified — confirm the current text below against the official source.
(1) For the purpose of this Act, a consolidated rate on the annual value of lands and buildings determined under this Chapter, shall be imposed by the Corporation. (2) Such consolidated rate shall be,— (a) where the annual value does not exceed two thousand rupees, 11 per cent of the annual value; (b) where the annual value exceeds two thousand rupees but does not exceed twenty thousand rupees, such percentage of the annual value as is worked out by dividing the annual value by two thousand and adding ten to the quotient, the sum thus worked out being rounded off to the nearest first place of decimal; 438 The Asansol Municipal Corporation Act, 1990. XXXI of 19911] (Part V.—Chapter IX.—Municipal Taxation.—B. Rating and Valuation.—Sections 93, 94.) (c) where the annual value exceeds twenty thousand rupees but does not exceed forty thousand rupees, such percentage of the annual value as is worked out by dividing the first twenty thousand of annual value by two thousand and the rest by one thousand and adding ten to the quotient, the sum thus worked out being rounded off to the nearest first place of decimal; (d) where the annual value exceeds forty thousand rupees, forty per cent of the annual value. Illustration.—If the annual value of any land and building comes to thirty-five thousand rupees, the percentage of consolidated rate to be imposed thereon shall be calculated in the following manner, namely:— 20 000 10 + ' + 15 '000 or thirty-five per cent: 2,000 1,000 Provided that notwithstanding anything contained elsewhere in this Act or in any other law for the time being in force, before imposi- tion of consolidated rate under this section, there shall be a revised valuation of lands and buildings in accordance with the provisions of this Act: Provided further that the denominator "two thousand" as referred to in clause (b), or the denominator "two thousand" or "one thousand", as the case may be, as referred to in clause (c), of this sub-section may undergo an upward revision at such scale as the State Government may from time to time fix by notification in order to lower the percentage of consolidated rate applicable to different ranges of valuation.