Property Tax
The Nashik Municipal Corporation (NMC) has planned to hike the property taxes for commercial establishments by 25 per cent exempting residential properties from the tax hike. The tax hike will come into action from the next financial year 2013-14. The standing committee chairman Uddhav Nimse cancelled NMC’s proposal to raise house and water taxes for [...] Continue Reading »
Rajkot Municipal Corporation (RMC) has decided to auction 14 properties of the defaulters in order to strengthen its property tax collection drive. The drive is to be held between July 16 and July 21. The Corporation has so far collected Rs 84.31 crore as property tax which is 28 crore more than the previous year. [...] Continue Reading »
In a noteworthy step taken up by the Nagpur Municipal Corporation (NMC), a special drive held for two days at all ten zone offices saw settling of 800 pending cases. The property owners’ applications were stuck for over a year even after they had submitted all the required documents. Most of the cases involve issuing [...] Continue Reading »
Yet another story of lack of political consensus coming in way of urban reform surfaces in Punjab when BJP opposes the imposition of property tax in Punjab as drafted by its political ally SAD. Punjab is aiming to generate more revenue to help out the fund starved finance department. As a consequence of BJP’s opposition, [...] Continue Reading »
In a new move, the Nashik Municipal Corporation (NMC) has decided to start linking property tax on newly constructed houses promptly. The tax would be linked as soon as the building completion certificate (BCC) is issued to the developer. The move came across as an effort to increase revenue for the NMC by levying house [...] Continue Reading »
The Kolkata Municipal Corporation (KMC) is set to introduce a new system for property tax payment which is believed to ease out the method of tax-paying and generate more revenue to the government. The new method denies visits of corporation inspectors as they are presently doing. The tax-payers will have to make a self-assessment of [...] Continue Reading »
PricewaterhouseCoopers, a global professional services firm, inaugurated its new office in Chennai, on Tuesday, to provide advisory, tax and regulatory services. The company has increased its employee base by 24 per cent at the Chennai Centre to meet the growing demand for various sectors. PwC has its existence in major cities of India like Ahmedabad, [...] Continue Reading »
While opposing the proposed increase on property tax in the civic budget, the Nashik Municipal Corporation‘s (NMC) standing committee (SC) points out at alternative areas of revenue generation. They have suggested levying of commercial tax on small businesses operating out of domestic premises. Standing committee chairman Uddhav Nimse stated that out of 1,132 galas owned [...] Continue Reading »
Income-Tax department officials will issue a fresh ‘Property Attachment Notice’ to the Swarnandhra IJMI Integrated Township Development Company Pvt. Ltd. properties at Kukatpally. As sources say, this is an outcome of the developer’s failure to pay a total of Rs 66.59 crore corporate tax. V.V. Rao, Malaysian Township Owners’ Association member, said that the income [...] Continue Reading »
The Corporation of Chennai has taken up recent initiative to collect an estimated property tax of Rs. 750 crore in the year 2012-13. While the department is hopeful of this renewed tax efforts, there are key challenges ahead which are yet to be addressed. As for reaching the estimated target of 750 crore, groundwork has [...] Continue Reading »
