Section 101(1) in The Maharashtra Municipal Councils, Nagar Panchayats And Industrial Townships Act, 1965
(1)The Chief Officer shall each year [before the 31st day of December prepare, [***] [This portion was substituted for 'on or before the 31st day of December prepare and place before the Standing Committee' by Maharashtra 4 of 1974, Section 22(1)(a).], the annual budget containing] -(i)a statement showing the income and expenditure of the Council for the previous financial year;(ii)a statement showing the income and expenditure of the Council from the 1st day of April to the 30th day of November of the financial year then current and an estimate of the income and expenditure for the remaining portion of the current year;(iii)[ two estimates of the income and expenditure of the Council during the ensuing financial year and an estimate of the closing balance in the municipal fund at the end of the current year, as follows, namely:- [Clause (iii) was substituted by Maharashtra 15 of 2012, Section 18(a), (w.e.f. 4-8-2012).](a)an estimate 'A' of income and expenditure of the Council for the purposes of the Chapters other than Chapters XIII and XIV;(b)an estimate 'B' of income and expenditure of the Council for the purposes of Chapters XIII and XIV, in which the Chief Officer, shall, -(i)propose with reference to the provisions of Chapter IX such rates and extent of such municipal taxes as he thinks fit for the purposes of Chapters XIII and XIV;(ii)state the estimate of receipt of the aforesaid taxes or of any other receipts;(iii)provide for payment as they fall due, of all sums and of all instalments of principal and interest for which the Council may be liable under this Act in respect of matters falling under Chapters XIII and XIV;(iv)provide for such expenditure, if any, as he considers necessary to be incurred by the Council in the next ensuing financial year for the purposes of Chapters XIII and XIV.]:[Provided that a separate estimate of the income and expenditure of the Council during the ensuing financial year in respect of the services, under Chapter XIII and Chapter XIV, shall be prepared] [The proviso was added by Maharashtra 41 of 1994, Section 148(e).];(iv)proposals for any change in the taxes, fees or other charges to be levied for the ensuing year.
