Section 4. Payment of tax.

(1) The tax leviable under 1[ 2[sub-section (1)] of section 3] shall be paid in advance by every registered owner or any person having possession or control, of a motor vehicle,- (i) annually 3[at the rates provided by 4[sub-section (1) of section 3]] (hereinafter referred to as "the annual rate"), or 5[(ii) for each quarter, at one-fourth of the annual rate referred to in clause (i), plus ten per centum thereof rounded off in the manner provided in 6[sub-section (3)] (the sum so arrived at is hereinafter referred to as "the quarterly rate"), or (iii) for more than one quarter, at multiples of the quarterly rate;] 7[(iv) for any period less than a quarter expiring on the last day of the quarter,- (a) at the rate of one-twelfth of the annual rate of tax plus 20 per cent. thereof, where the period does not exceed one calendar month ; (b) at the rate of two-twelfth of the annual rate of tax plus 15 per cent. thereof, where the period exceeds one calendar month but does not exceed two calendar months ; and (c) at the quarterly rate, where the period exceeds two calendar months;] 8* * * * * * * * 9* * * * * * * * 10[(2) The one time tax payable under sub-sections 11[(1C), (1D), (IE) or (1F)] as the case may be, of section 3 shall be paid, in case of motor vehicles referred to,- (a) in sub-clause (i) of clause (a) of each of the sub-sections 12[(1C), (1D), (1E), and (1F)] at the time of registration ; (b) in sub-clause (ii) of clause (a) of each of the sub-sections 13[(1C), (1D), (1E) and (1F)] within one month from the date of expiry of the period for which the tax is paid under sub-section (1) of section 3; and (c) in sub-clause (iii) of clause (a) of each of the sub-sections 14[(1C), (1D), (1E) and (1F)] at the time of Registration mark is assigned to the vehicle in the State of Maharashtra.] 15[(3)] In calculating the amount of tax due under 16[this section] for any period 17* * * * the fraction of a rupee less than fifty 18[paise shall be ignored, and the fraction of rupee of fifty paise or more] shall be taken as a rupee.