Chapter IV FINANCE, ACCOUNTS AND AUDITS

1. (1) The State Government may, after due appropriation made by the State Legislature, bye-law in this behalf, make such grants and advances to the Board as the State Government may think fit for the purposes of its functions and its duties, and all grants and advances so made shall be on such terms and conditions as the State Government may think fit.
2. (2) For the purpose of giving grant to the Board, it shall be lawful for the State Government to levy a cess at such per centum of the rateable value or the capital value of the properties, as the case may be, as may be notified in the Official Gazette, which shall be collected by the Corporations and the Councils and remitted to the State Government. The State Government shall every year, pay to the Board, a grant-in-aid approximately equal to the amount collected on account of the cess levied under this section, in such manner as may be prescribed by rules.

1. (1) There shall be constituted a Fund to be called "Municipal Property Tax Board Fund" and to which shall be credited,-
   • (a) any Government grants and advances received and fees and charges, if any, levied under this Act or the rules made thereunder, and
   • (b) all sums received by the Board from such other sources as may be decided upon by the State Government.
2. (2) All moneys received by the Board shall be deposited in one or more nationalized banks.
3. (3) The Fund shall be applied for meeting,-
   • (a) the salaries, allowances and other remunerations of the Chairperson and the Members, officers and other employees of the Board,
   • (b) other expenses of the Board in connection with the discharge of its functions and for the purposes of this Act.

The Board shall prepare, in such form and at such time in each financial year, as may be prescribed, by rules, its budget for the next financial year, showing the estimated receipts and expenditure of the Board and forward the budget to the State Government.

1. (1) The Board shall maintain proper accounts and other relevant records and prepare an annual statement of accounts in such form as may be determined by the State Government in consultation with the Comptroller and Auditor-General of India.
2. (2) The accounts of the Board shall be audited by the Comptroller and Auditor-General of India at such intervals as may be determined by him and any expenditure incurred in connection with such audit shall be payable by the Board to the Comptroller and Auditor-General of India.
3. (3) The Comptroller and Auditor-General of India and any person appointed by him in connection with the audit of the accounts of the Board under this Act shall have the same rights and privileges and authority in connection with such audit as the Comptroller and Auditor-General of India generally has in connection with the audit of Government accounts and, in particular, shall have the right to demand the production of books, accounts, connected vouchers and other documents and papers and to inspect any of the offices of the Board.
4. (4) The accounts of the Board, as certified by the Comptroller and Auditor-General of India or any other person appointed by him in this behalf, together with the audit report thereon shall be forwarded annually to the State Government by the Board and the State Government shall cause the audit report to be laid, as soon as may be after it is received, before each House of the State Legislature.

1. (1) The Board may delegate any of its powers and functions including financial powers to the Chairperson of the Board.
2. (2) The Board may also delegate any of its powers or functions to any other officers of the Board by a resolution adopted by it in this behalf.

The Chairperson and every Member of the Board or every officer or employee of the Board shall, when acting or purporting to act under the provisions of this Act, be deemed to be a public servant within the meaning of section 21 of the Indian Penal Code (45 of 1860), section 197 of Code of Criminal Procedure, 1973 (2 of 1974) and clause (c) of section 2 of the Prevention of Corruption Act, 1988 (49 of 1988).

1. (1) Any person aggrieved by any decision or order of the Board may file an appeal to the High Court.
2. (2) Except as aforesaid, no appeal or revision shall lie to any Court from any decision or order of the Board.
3. (3) Every appeal under this section shall be preferred within sixty days from the date of communication of the decision or order of the Board to the person aggrieved by the said decision or order : Provided that, the High Court may entertain an appeal after the expiry of the said period of sixty days, if it is satisfied that the aggrieved person had sufficient cause for not preferring the appeal within the said period of sixty days.