(1) The Council shall for the purposes of this Act, levy the following taxes, namely:--
         (a) property tax;
         (b) a tax on vehicles and animals;
         (c) a theatre-tax;
         (d) a tax on advertisements other than advertisements published in the newspapers;
         (e) a duty on the transfer of property; and
         (f) a tax on buildings payable along with the application for sanction of the building plan.
     (2) In addition to the taxes specified in sub-section (1) the Council may, for the purposes of this Act;levy any of the following taxes, namely:--
         (a) an education cess;
         (b) a tax on professions, trades, callings and employments;
         (c) a tax on the consumption, sale or supply of electricity;
         (d) a betterment tax on the increase in urban land values caused by the execution of any development or improvement work;
         (e) tolls.
     (3) The taxes specified in sub-section (1) and sub-section (2) shall be levied, assessed and collected in accordance with the provisions of this Act and the bye-laws made thereunder.