Property Tax
New Delhi- Recently the Delhi Development Authority (DDA) was asked to pay the property tax for the year 2012-2013 by the civic agency followed by the South Municipal Corporation. The property tax was to be paid by the DDA for using parks and grounds in East Delhi for various events like marriages, functions and ceremonies. Although the parks and the [...] Continue Reading »
Chandigarh- The issue of imposing property tax on the residential properties in Chandigarh has created a rift between the officials and public representatives due to the pressure from the UT administration and the government. However, this issue has been dragged along as the mayor refused to form the agenda based on the issue regarding the detailed [...] Continue Reading »
Nagpur- The civic bodies make announcement about offering service to people and increasing revenue but they have turned a blind eye to irregularities happening in the department of property tax. It’s known that mutation of property tax in Nagpur Municipal Corporation (NMC)’s property tax records can be seldom completed by following official process. However, the [...] Continue Reading »
Coimbatore- The Coimbatore municipal corporation has focused at achieving 91% tax collection from its 100 wards. It is taking strict actions against property tax defaulters including cutting off water connections to ensure maximum property tax collection from taxpayers before due date. In the preceding financial year, the civic body had achieved a high tax collection [...] Continue Reading »
Chennai- Income-Tax Appellate Tribunal (ITAT) of Chennai affirmed that the interest on home loans will continue to be out of the tax net despite the property gets sold later on. The interest paid on loans is surely an expenditure that should be taken into account while computing the income from housing property as well as [...] Continue Reading »
Kolkata- While hunting the targeted revenue, Kolkata Municipal Corporation found that around 3000 properties around Behala and Jadavpur were not estimated. The civic body have been needy to find ways to improve income ever since the Unit Area Assessment method to regulate property tax dropped through. Khalil Ahmed, Municipal Commissioner, issued a circular to the [...] Continue Reading »
New Delhi- If you haven’t yet paid your service tax dues, hurry up as November 27 is the deadline with over Rs.10-lakh rental income out of the immovable properties. Tax payers who fail to pay by the deadline will be charged a penalty. Tax implies to renting commercial properties with the rental amount exceeding the limit of Rs.10 lakh annually. [...] Continue Reading »
Nagpur- Nagpur Municipal Corporation (NMC) has appointed assistant tax assessors for all ten zones to improve and strengthen its functions and department. Out of all assessors, only VR Rewatkar is a senior engineer and the rest nine are of deputy engineer’s rank from water works department. They will be given the responsibilty of hearing the [...] Continue Reading »
Nagpur- As soon as the Nagpur Municipal Corporation (NMC) proposed cash value-based property tax technique, they committed that the stress will be more than twice the existing tax and thrice the current taxes pertaining to business oriented taxpayers. However, the tax may rise if anyone includes the 20-30% additional tax for essential services. If the [...] Continue Reading »
Hyderabad-The meeting scheduled for December 1 is expected to create a furor with the opposition as the Government of Hyderabad has been dawdling on the payment of property tax of its buildings. The current pending amount of the property tax on the government buildings stands up to Rs. 1,000 crore. Around 1,186 buildings are occupied by the [...] Continue Reading »
