(1) Within three months from the date of its appointment or such longer period as the Municipal Commissioner may specify in any case or class of cases, every assessing authority shall cause a list of all buildings containing taxable premises and indicating the taxable premises therein and the proportionate rateable value thereof, to be prepared and published in such manner as may be prescribed. For this purpose, the assessing authority may inspect any buildings or premises or make such enquires as it thinks fit.
(2) The list of taxable premises shall be maintained up-to-date by the assessing authority by inserting, deleting or altering any entry in the list, whenever such insertion, deletion or alteration is found to be necessary in consequence of any premises being constructed, altered, added to, or being reconstructed, in whole or in part, or on account of any erroneous omission or insertion of entry made through fraud, accident or mistake.
(3) For the purpose of enabling the assessing authority to prepare and publish a list of taxable premises under sub-section (1), the owner of every taxable premises shall, within two months from the appointed day or such longer period as the State Government may, either suo motu or on an application of a municipal corporation, by notification in the Official Gazette, specify in that behalf, furnish to the assessing authority a return containing the following particulars, namely :-
(i) the locality and the building in which the taxable premises is situated ;
(ii) the floorage of the premises ;
(iii) the rent for which the premises are let or reasonably expected to be let ;
(iv) the name of the owner of the premises and his permanent address ;
(v) the name of the occupier of the premises and his permanent address ; and
(vi) such other particulars as may be required by the assessing authority for the purposes of this Act.
(4) For the purpose of enabling an assessing authority to maintain the list of taxable premises upto-date as provided in sub-section (2), every owner of such premises which is taxable under this Act or which has ceased to be taxable at any time, shall furnish the assessing authority, a return containing the particulars specified in sub-section (3), as soon as may be, after such premises is rendered taxable or, as the case may be, has ceased to be taxable under this Act.