Property Tax
The Supreme Court’s order regarding property tax collection from private developers’ area will not have any impact on the revenue generated from house tax, claimed the Municipal Corporation of Gurgaon. The corporation hopes to earn Rs 500 crore through the property tax collection with the current fiscal budget. Senior officers have claimed that behalf of DLF’s [...] Continue Reading »
Economic slowdown in the country has even hit tax collection in the April-June quarter. Only 6.77 per cent growth in gross direct tax collection has been recorded in the quarter while the target for the year was 15 per cent. The gross tax collection for the quarter was over Rs 1.11 lakh crore as against [...] Continue Reading »
North Delhi Municipal Corporation today insisted officers to collect taxes with sincere efforts so that it would help the body. Standing Committee Chairman, Yogender Chandolia, said that approximately Rs 4,800 crore can be collected from regularisation of unauthorised construction, floor wise regularisation, freehold the shops transferred from the government and by charging property tax on [...] Continue Reading »
The high power expert committee (HPEC) in its report to the union government has recommended that the property tax system in the country should be rationalized. Property tax should be retained as a general benefit tax, and its components such as water tax and sewerage tax should be replaced by appropriate ‘user charges’, recommended the committee. It also recommended [...] Continue Reading »
The proposal to assess property tax based on capital value of the structures in Thane has been contested in the Bombay high court by citizens organization here. Municipal commissioner RA Rajeev has proposed that all residential, commercial or industrial property would be assessed on the basis of its capital value or market value as listed in [...] Continue Reading »
In order to increase revenue from property tax, Nagpur Municipal Corporation has set new targets for revenue inspectors across 10 zones. Property tax inspectors have been directed to identify 75 new properties each that are not being taxed in their zones in this financial year. According to a senior official, Laxmi Nagar zone has 16 [...] Continue Reading »
Bruhat Bengaluru Mahanagara Palike (BBMP) has taken up some steps to provide better service for property tax payers. Corporation Bank is also included along with IDBI Bank for tax payment. Khata will be issued only after taking fingerprints as a biometric system will be introduced from this year, in order to curtail the duplicate khata [...] Continue Reading »
The BJP government has decided to levy commercial property taxes on properties owned by discoms and power generation companies due to the steep hike in power tariff, especially in streetlights. According to officials, discoms are charging electricity at commercial rates for street lighting and operating pumps in corporation parks. As per the recent order, the [...] Continue Reading »
Chandigarh city residents are relieved as the formalities over imposing the house tax on residential properties and revision of tax rates of commercial properties will take at least another six months or more. Chandigarh administration needs to issue a notice of communication to the MC as it has already sent many reminders regarding impose of [...] Continue Reading »
The Bruhat Bengaluru Mahanagara Palike (BBMP) has enhanced its range of services for online payment. It’s a good news for those facing problems while paying property tax. Along with IDBI Bank, Corporation Bank is also included for tax payment now. BBMP is also looking at IT to curb the duplicate khata racket, and will introduce a [...] Continue Reading »
