47. Payment of betterment contribution,

  1. The betterment contribution payable under section 46 in respect of any land shall be paid by the owner of that land in twenty equal annual instalments to such authority, within such time and in such manner as may be prescribed, on a notice of demand issued by that authority :
    Provided that no such notice shall be served until the expiry of two years from the date of which the land is provided with irrigation facilities.
  2. The owner of any land in respect of which betterment contribution is payable shall be entitled to a rebate of 40%, provided the entire amount of the betterment contribution is paid by him within a period of one year from the date on which he becomes liable to pay the same.