Rental property tax may increase
No Comments Sub Category:Uncategorized Posted On: Dec 06, 2011
A fixed annual property tax rate for residential properties has been fixed by Greater Hyderabad Municipal Corporation (GHMC).
GHMC came to this conclusion soon after holding discussions with the stakeholders.
It has been learnt that in most of the situations the house owners are claiming to be residing in their properties despite of giving it on rent.
The reason is to claim 40 per cent rebate offered on the self-occupied premises. Therefore to stop all these illegal practices, GHMC has planned to increase the tax rate for rented properties.
Source: The Hindu
Tags:
Annual property tax rate, GHMC, Greater Hyderabad Municipal Corporation (GHMC), House owners, Hyderabad, property tax, Rebate, Rent, Self-occupied premises, Stakeholders
