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1). |
Tax payable under this Act for each year may be provisionally assessed in advance during the year and paid in monthly or prescribed installments in respect of such class or category of proprietors liable to tax under Section 3A on the basis of estimated or actual turnover of the proprietor and for that purpose such proprietor may be required to submit a return of estimated or actual turnover and pay the tax on the basis of such return or periodical returns, in such manner as may be prescribed. |
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2). |
If the assessing authority has reason to believe that the provisional assessment for any period was made on too low turnover or at too low a rate, or on too high a turnover or too high a rate, he may enhance or reduce, as the case may be, such provisional assessment:
Provided that before making an enhancement of the provisional assessment as aforesaid the assessing authority shall, except where such enhancement is based on the turnover finally determined for the preceding year, issue a notice thereof to the proprietor and make such enquiry as he deems necessary. |
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3). |
The tax provisionally assessed may be levied and collected, either in advance during the year in monthly or other prescribed instalments or at any time thereafter in lumpsum.] |
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1. Section 7-A was inserted by Act No:28 of 1996 w.e.f.1-8-96 |
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