Section 53
(1) For the purposes of 4 [sub-section (2) of section 52] , annual value means -
53. (1) For the purposes of 4 [sub-section (2) of section 52] , annual value means -
(a) in the case of railway stations, educational institutions (including their hostels and halls) factories (as defined in the Factories Act, 1948) and commercial establishments (as defined in the Uttar Pradesh Dookan Aur Vanijya Adhishthan Adhiniyam, 1952), five per cent of the market value of the premises;
(b) in the case of any other premises, the gross annual rent for which such premises are actually let or where the premises are not let, the gross annual rent for which the premises might reasonably be expected to be let:
Provided that the annual value in the case of premises occupied by the owner himself shall be deemed to be twenty-five per cent less than the annual value otherwise determined under this section.
(2) The annual value of premises for the purposes of the 5 [levy of taxes under sub -section (2) of 52] shall be assessed by such authority as the State Government may, by general or special order direct, and such authority may be either the Jal Sansthan itself or any other agency may be specified in the order.
Roop's Law Assist