Wednesday, May 1, 2013

Governing of LBT

This discussion shall provide insight into what provisions of Law govern LBT.

Local Body Tax, commonly know as LBT is governed by "The Maharashtra Municipal Corporation Act, 1949" (earlier know as The Bombay Provincial Mumbai Corporation Act, 1949). A new chapter XI-B has been inserted in this act to govern the provisions of LBT. This chapter ranges from Section 152P to Section 152T.
Apart from section 152P to 152T, other section of chapter XI-A are also applicable to LBT namely

152BIncidence of LBT
152DLiability in certain cases
152ELBT Authorities
152GMemorandum of sales and purchase
152ILiability to maintain and produce ac
152JSearch of premises, Seizure of books
152KCommissioner to have powers of Civil
152LOffenses and Penalties
152MDisclosure of information by Municip
152NCompounding of Offenses

The State Govt. derives power to levy LBT from Section 152T.