THE JAMMU AND KASHMIR MUNICIPAL CORPORATION ACT, 2000
Section 111. Amount of development tax.
(1) The development tax shall be an amount equal to one half of the difference between the market value of the land or building on the date specified in the notification issued under subsection (2) and the market value of such land or building on or immediately before the date on which the scheme after sanction is finally notified under Chapter XIX :
Provided that for the purpose of calculation under this section the land shall be treated as free of all building.
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