State Act

The Gujarat Finance Act, 1932

22. There shall, subject to the provisions of section 23, be levied and paid to the 27[State] Government a tax on buildings and lands, hereinafter called the " Urban Immovable Property tax " at 28[such rate not exceeding seven per cent. of the annual Letting value of the buildings or lands in such area or areas as may be notified by the 3[State] Government in the Official Gazette]: Provided that 29[(1) such tax shall be levied and paid to the State Government at such rate not exceeding three and half per cent. of the annual letting value of the buildings or lands not exceeding such amount and in such area or areas as may be specified by the State Government by notification in the Official Gazette ] ; 30[(2) that if any building consists of more than one tenement and such tenements are separately assessed to the property tax, urban immovable property tax shall be assessed on the annual letting value of the building as a whole ; 31[30(3)] where more than one braiding or land in the same locality is 32[owned by the same person] the urban immovable property tax shall be assessed on the annual letting vales of all such buildings or lands] , 33[(4) if any building owned by a Co-operative Housing Society or the members there of consists of more than one tenement, the urban immovable property tax shall be assessed on the annual letting value of the tenement or tenements owned by, or occupied by each member separately as if it were a building whether such tenement or tenements are separately assessed to the property tax or not ]