Section 5 in Tamil Nadu Duty on Transfers of Property (in Municipal Areas) Act, 2009
5. Apportionment of duty on transfers of property.
- Fifty per cent of the duty on transfers of property collected under this Act in respect of any property situated in a municipal area, shall be credited to the municipal fund, within whose territorial area such property is situated and the balance of fifty per cent shall be credited to the Tamil Nadu Urban Road Infrastructure Fund (hereinafter referred to as the Fund), in such manner as may be prescribed:[***] [Proviso 'Provided that the duty on transfers of property collected under this Act in respect of any property situated in a panchayat town shall be credited to the fund of the town panchayat within whose territorial area such property is situated.' omitted by Act No. 37 of 2010, dt. 27.11.2010, w.e.f. 13.09.2010.]
