- Where a licence granted under section 460 permits the levy of any fees of the nature specified in sub-section (2) of section 4,58, a fee not exceeding 33-1/3 per cent of the gross income of the owner from the market in the preceding year shall be charged by a Municipality for such licence;Provided that-(i)in the case of a market which was in existence only for a portion of the preceding year, the gross income of the owner from the market for the preceding years shall be deemed to be an amount which bears to the income of the portion of the year the same proportion as the whole year bears to the portion of the preceding year during which the market was in existence.(ii)in the case of a new market, the licence fees fixed by a Municipality shall not be less than-(a)fifty rupees where the area of the market is not more than ten ares;(b)hundred rupees where the area of the market is above ten ares, but not more than twenty ares;(c)one hundred and fifty rupees where the area of the market is above twenty ares.
