Section 4A(5) in Karnataka Tax on Luxuries Act, 1979
(5)The amount of security payable under sub-section (4) shall not exceed an amount equivalent to one fourth of tax anticipated for the year form the proprietor [or a stockists] [Inserted by Act 7 of 1997 w.e.f. 1.4.1997]. The [Luxury Tax Officer] [Substituted by Act 10 of 1986 w.e.f. 31.3.1986] may demand an additional security, if he has reason to believe that the security furnished already is inadequate.
