Substitution of new schedule for existing Schedule

Substitution of new schedule for existing Schedule.-For the Schedule to the principal Act, the following Schedule shall be substituted, namely:-

“ THE SCHEDULE (See section 5) Rate of building tax

2. Where the capital value of building exceeds Rs. 75,000-

1. (a) on the first Rs. 25,000 of such excess 1 percent
2. (b) on the next Rs. 25,000 of such excess 2 per cent
3. (c) on the next Rs. 50,000 of such excess 3 per cent
4. (d) on the next Rs.50,000 0f such excess 4 per cent
5. (e) on the next Rs. 1,00,000 of such excess 5 per cent
6. (f) on the next Rs. 1,00,000 of such excess 7 per cent
7. (g) on the balance 10 per cent”.