Section 7. (1) The balance of the States' share of the taxes on income and of the Union duties of excise pa

7. (1) The balance of the States' share of the taxes on income and of the Union duties of excise payable to the State of Madras in respect of the financial year 1953-54 shall be shared between the States of Madras, Andhra and Mysore in the proportion of 62⅔: 36: 1⅓. Explanation .—The balance referred to in this sub-paragraph shall be taken to be one-half of the amount payable to the State of Madras as constituted immediately before the appointed day out of the States' share of taxes on income or of Union duties of excise, as the case may be, in accordance with the Budget Estimates of the Central Government in respect of the financial year 1953-54. (2) The States' share of the taxes on income or of the Union duties of excise payable to the State of Madras as constituted immediately before the appointed day in respect of each of the financial years commencing on or after the 1st day of April, 1954 shall, until other provision is made by law, be also shared between the States of Madras, Andhra and Mysore in the proportion of 62⅔: 36: 1⅓. THE SEVENTH SCHEDULE [ See sections 47(1), 48(3), 51, 52 and 66(1)] PROVISIONS AS TO APPORTIONMENT OF ASSETS AND LIABILITIES BETWEEN MADRAS, ANDHRA AND MYSORE