Amendment of section 385H.

In section 385H of the principal Act,- (1) in sub-section (6), for clause (d), the following clause shall be substituted: "(d) the multiplicative factors for increasing or decreasing, or for not increasing or decreasing, the base unit area values for a covered space or land comprising building or any vacant land within each category specified above, taking into consideration the parameters of type of location, use and age structure, occupancy status, and such other relevant factors of such vacant land, land including any building or buildings, as the case may be, as the Municipal Valuation Committee considers necessary, along with a point scale assigned for each parameter, to be determined by the Valuation Committee, subject to a lower limit of 0.5 and upper limit of 8.0 in the said point scale, for the purpose of deriving the final base unit area value of such covered space or land comprising building or any vacant land."; (2) after sub-section (30), the following sub-section shall be inserted:- "(31) Preparation of assessment list - After publication of final scheme by the West Bengal Valuation Board, the owner or person liable to pay property tax shall file a return of self-assessment either digitally or manually as decided by the Industrial Township Authority in such form and within such period as may be specified in the said scheme, of their property based on the rate chart stated in the final scheme: Provided that the Industrial Township Authority shall prepare an assessment list within a year from the date of publication of final scheme comprising all holdings within their jurisdiction based on the rate chart stated in the final scheme published by West Bengal Valuation Board. Provided further that if any owner or person liable to pay property tax fails to comply self-assessment in due time or suppress any part of their property, it shall be treated as wilful suppression of facts and the person liable to pay property tax shall be penalised not exceeding thirty percent of the property tax enumerated in the assessment list prepared by the Industrial Township Authority in addition to the property tax.".