Properties to come under tax net by South Corpn
The South Corporation has decided to come up with ‘Unique Property Identification Code’ so that the revenue can be effectively increased and improved further. This will be done in order to bring the properties under the tax net. Recently, a memorandum of understanding has been signed by the civil agency with a private firm. This will be done to allot every building with ‘Unique Property Identification Code’.
According to SDMC, the civic agency’s revenue needs to be improved and increased. For this very purpose, a couple of structural and functional changes should be made in the property tax department. The current tax collection system will now be transformed to 3D GIS based system. This will be done by allotting a unique property to each building once all the properties have been brought in together.
The civic agency has also mentioned that assignment for the ‘Unique Property Identification Code’ has been given under section 125 of the Delhi Municipal Corporation Act, 1957.
The South Corporation had also performed the strenuous task of bringing lakhs of properties under the tax net during the year 2012-13. According to the Geospatial Delhi Ltd, about 14.91 lakhs of properties fall within the jurisdiction of civic agency. Despite 20% of the properties are non taxable, still 12 lakh properties should come under the tax net.
Source: Deccan Herald
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