IT parks in Bangalore are not paying property tax properly
Bruhat Bangalore Mahanagara Palike (BBMP) has identified sources from where it is losing revenue.
In a survey to reassess buildings in tech parks for property tax at Mahadevapura revealed that the Palike has been cheated of crores by commercial and IT buildings, which do not pay tax according to the law.
BBMP found that 10 commercial buildings: RMZ Exo Space building, Salarpuria Hallmark, Salarpuria Touch Stone, Cessna Garden Business Park, Vrundhavan Tech Village, Ferns Icon, Sree Relators, Big Bazar, Island Star Mall Developers and Prestige Garden Construction Private Limited, at Mahadevapura had not paid tax according to their built up area, violating the law.
According to the survey, it is found that every year, these buildings altogether had been paying Rs 14.14 crore less than the actual tax amount.
Now BBMP has planned to recover the difference amount of Rs 34.90 crore, which has not been paid for the last three years.
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Source: IBN Live
