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[Cites 0, Cited by 1] [Section 87] [Entire Act]

State of Haryana - Subsection

Section 87(1) in Haryana Municipal Corporation Act, 1994

(1)The Corporation shall, for the purposes of this Act, levy the following taxes -
(a)[ a property tax payable by the owner or occupier of building and land at the rates notified by the Government, from time to time depending upon the area in which the building or land is situated, its location, purpose for which it is used, its capacity for profitable use, quality of construction and other relevant factors;] [Substituted by Haryana Act No 21 of 2012 w.e.f. 1.4.2010.]
(b)[such other tax, at such rates as the Government may, by notification, in each case direct;] [Words 'octroi, or in lieu thereof' omitted by Haryana Act No. 2 of 2000.]
(c)a duty on the transfer of immovable properties situated within the limits of the municipal area in addition to the duty imposed under the Indian Stamp Act, 1899, as in force for the time being in the State of Haryana, on every instrument of the description specified below and at such rate, as the Government may, by notification, direct, which shall not be less than one per centum and more than three per centum on the amount specified below against such instruments :-
Description of instruments Amount on which duty shall be levied
(i) Sale of immovable property the amount or value of the consideration for the sale as setforth in the instrument.
(ii) Exchange of immovable property the value of the property or the greater value as set forth inthe instrument.
(iii) Gift of immovable property the value of the property set as set forth in the instrument.
(iv) Mortgage with possession of immovable property the amount secured by the mortgage as set forth in theinstrument.
(v) Lease in perpetuity of immovable property the amount equal to one-sixth of the whole amount or value ofthe rent which would be paid or delivered in respect of the firstfifty years of the lease, as set forth in the instrument.
The said duty shall be collected by the Registrar or Sub-Registrar in the shape of non-judicial stamp paper at the time of registration of the document and intimation thereof shall be sent to the Corporation immediately. The amount of the duty so collected shall be paid to the Corporation.