"97. (I) The tax payable on land and buildings shall be leviable as Incidence of under:- taxes on land and buildings.
Serial Category of building No.
Rate of tax I. Self occupied residential building
(i) Fifty rupees in case rand area is fifty square yards or below, having covered area not more than 450 square feet;
(ii) One hundred and fifty rupees in case land area is one hundred square yards or below, having covered area not more than 900 square feet;
i I / 40 PUNJAB GOVT. GAZ. (EXTRA), SEPTEMBER 20,2013 (BHDR 29,1935 SAKA)
(iii) Halfper cent ofthe rateable value in case the land area is fifty square yards or below OR one hundred square yards or below, but the covered area exceeds the stipulation indicated in (i) and (ii) a~ove;.
(iv) Halfper cent of the rateable value, in case the land area is five hundred square yards or below; and
(v) One per cent of the rateable value, in case the land area is more than five hundred square yards;
2. Residential building Seven and half per cent of the rateable under the occupation value;
oftenant(s) J. Selfoccupied non- Three per cent of the rateable value;
residential building
4. Non-residential building Ten per cent of the rateable value:
under the occupation oftenant(s)
Provided that if the land is vacant or the building is unproductive, the rate . of tax shall be 0.20 per cent of the rateable value:
Provided further that the owner or the occupier, as the case may be, shall be at liberty to pay the tax on building and/or land as per the ca.lculations -to bemade in accordance with the provisions of either the principal Act as amended by the Punjab Municipal Corporation (Second Amendment) Act, 2012 (Punjab Act No. 7 of20 13) or the Punjab Municipal Corporation (Second Amendment) Ordinance, 20 J 3, as he deems fit.
(2) For the building and land, which were not subject to tax prior to the commencement of the Punjab Municipal Corporation (Second Amendment) Act, 2012 (Punjab Act No. 7 of20 J J), if the tax for the period from 15th day of November, 2012 to the date of commencement of the Punjab Municipal Corporation (Second Amendment) Ordinance, 2013, has not been paid, the same shall not be recovered:
Provided that if such tax has been paid, the same shall be adjusted in the Omission of section 98 of Punjab Act 42 of 1976.
Substitution of section 101 of Punjab Act 42 of 1976.
Omission of section 102 of Punjab Act 42 of 1976.
Substitution of section 10) of Punjab Act 42 of 1976.
PUNJAB GOVT. GAZ. (EXTRA), SEPTEMBER 20,2013 41 (BHDR29, 1935 SAKA) assessment of tax for the year 2013-14.".
7. In the principal Act, section 98 shall be omitted.