Section 154(1) in Chennai City Municipal Corporation Act, 1919
(1)The commissioner shall, in consultation with the heads of departments of the corporation, prepare and submit to the standing committee on taxation and finance on or before the first day of January each year, a budget containing a detailed estimate of income and expenditure for the ensuing year, and if it is in his opinion necessary or expedient to vary taxation or to raise loans, shall, submit his proposals in regard thereto; and the standing committee on taxation and finance shall in consultation with the other standing committees consider and finalise the budget estimate and submit the same with its recommendations, if any, to the council on or before the twentieth day of January, of each year.
