Punjab government extends deadline to pay property tax by three months
Punjab government extends the deadline to pay property tax by three months
CHANDIGARH: The Punjab government on Thursday declared a three-month continuation in the deadline proclaimed to pay the outstanding house tax or property tax outwardly without any penalty.
In a press report, local bodies minister Brahm Mohindra stated that the government had resolved to partly exclude a class of persons from the payment of specific charges levied under the Punjab Municipal Act.
Presently, the property holders may pay the property tax or outstanding house tax in three months with several circumstances.
He stated that the persons who had failed to save the house tax or the property tax, may now collect the principal amount in lump-sum with the allowance at the rate of 10% of the amount being collected within a period of three months from the date of issuance of the order as a onetime contract; and penalty at the rate of 10% on the stated amount within the period of the next three months.
Mahindra stated that those who still abandoned to collect the outstanding amount within the period and the manner particularized over, shall be responsible to pay a penalty at the rate of 20% of the amount outstanding, along with interest at the allowance of 18% from the date it displayed due till the date of its accomplishment.
The minister stated that this determination of the government, on the one hand, would provide huge assistance to such property holders/owners who dropped the deadline to pay the house tax or property tax and whose property had been sealed by several urban local organizations as a penalty, on the other it would also improve the revenue collection of the civic bodies. He stated that urban bodies would now have more extra funds at their determination to perform development works.
indian real estate news, indian real estate updates, property tax, Punjab, Punjab property tax, Real estate in India, Real Estate Sector, Real estate sector for Punjab
