Lawgist.Download the App Now!
Get our Android app for fast and offline Access.
(1) For the purposes of providing, maintaining or continuing any amenity in the Taj Economic Zone, the Authority may, with the previous approval of the State Government, levy such annual taxes as it may consider necessary in respect of any site or building on the occupier thereof, provided that the total incidence of such taxes shall not exceed one percent of the market value of such site, or building, as the case may be. Explanation- For the purposes of this sub-section, the expression 'market value' means, the amount of- (a) consideration, in the case of sale; or (b) premium, in the case of lease; or (c) the minimum value determined in accordance with the Uttar Pradesh Stamp (Valuation of Property) Rules, 1997 made under the Indian Stamp Act, 1899, whichever is more. (2) if, the State Government considers it necessary or expedient in the public interest it may, by a general or special order, exempt wholly or partly any occupier or any class thereof from the taxes levied under sub-section (1).
(1) For the purposes of providing, maintaining or continuing any amenity in the Taj Economic Zone, the Authority may, with the previous approval of the State Government, levy such annual taxes as it may consider necessary in respect of any site or building on the occupier thereof, provided that the total incidence of such taxes shall not exceed one percent of the market value of such site, or building, as the case may be. <br> <span style="margin-left:15px;"></span>Explanation- For the purposes of this sub-section, the expression 'market value' means, the amount of- <br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span> (a) consideration, in the case of sale; or <br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span> (b) premium, in the case of lease; or <br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span> (c) the minimum value determined in accordance with the Uttar Pradesh Stamp (Valuation of Property) Rules, 1997 made under the Indian Stamp Act, 1899, <br> <span style="margin-left:15px;"></span> whichever is more. <br> (2) if, the State Government considers it necessary or expedient in the public interest it may, by a general or special order, exempt wholly or partly any occupier or any class thereof from the taxes levied under sub-section (1). <br>