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Delhi Property tax

DMRC beings Work for Delhi Metro Phase-IV

DMRC beings Work for Delhi Metro Phase-IV
With officials issuing Rs 800 crores for this purpose, construction activity on the Delhi Metro Phase-IV is expected to begin in December this year. The construction work may initially origin on the Janakpuri-RK Ashram route, the highest corridor following this period. Tenders will be quickly drifted for two different Aerocity-Tughlaqabad, priority corridors, and Majlis Park-Maujpur.   DMRC beings Work [...] Continue Reading »

Housing ministry wants to increase in tax relief on home loans

Housing ministry wants to increase in tax relief on home loans
In the Union budget of 2013-14, the housing minister had asked the finance ministry to raise the tax deduction limit on home loan to Rs 2 lakh from the existing Rs 1.50 lakh. This decision will be a relief to the needful borrowers suffering due to high interest rates. This will also boost the housing sector through this relief [...] Continue Reading »

DDCA to pay Rs 8 crore property tax

DDCA to pay Rs 8 crore property tax
South Delhi Municipal Corporation (SDMC) is tangled in pending tax issues related to the Feroz Shah Kotla stadium. However, citing a court order against any coercive action on DDCA, SDMC has become moderate about the issue. South corporation mayor Savita Gupta told that the Delhi District Cricket Association’s (DDCA) requested the corporation to permit them [...] Continue Reading »

Housing ministry seeks tax sops for affordable projects

Housing ministry seeks tax sops for affordable projects
The Ministry of housing has sought tax sops, under the section 80IB (10) of the Income Tax Act, for the developers of affordable housing projects. A senior government official said the housing ministry has also asked for service tax exemption for private developers of the affordable housing projects. Also, the ministry has suggested that the [...] Continue Reading »

Asaram Bapu charged over Rs 700-cr land grab case

Asaram Bapu charged over Rs 700-cr land grab case
Delhi- After the controversial remarks on the Delhi gang rape, Asaram Bapu is again in the news for another controversy. The self-styled godman has been alleged with Rs. 700-crore land grab case. The Serious Fraud Investigating Office has decided to prosecute him. According to the SFIO,  Bapu has been a part of the 200 acres land grab [...] Continue Reading »

‘Government bodies’ biggest tax defaulters

‘Government bodies’ biggest tax defaulters
In order to recover property tax, the south Delhi municipal corporation has decided to attach their bank accounts. A senior officer of SDMC said, this action will be taken by this weekend. Strict action will be taken on Delhi International Airport Limited (DIAL) which owes Rs 85 crore as property tax to the civic body. [...] Continue Reading »

NDMC to hike property tax by 3%

NDMC to hike property tax by 3%
New Delhi- The latest proposal initiated by the civic body is the hike in property tax by 3 percent. This property tax hike will result in residents of New Delhi Municipal Corporation (NDMC) paying double tax from next fiscal, followed by an increase in property valuation. However, the budget of 2013-14 is expected to hike [...] Continue Reading »

SDMC to include more properties in tax net

SDMC to include more properties in tax net
Delhi: Under the budget estimate for 2013-2014, South Delhi Municipal corporation (SDMC) has spared a hike in property tax for their residents. The corporation will focus on the collection of property tax and will not increase the tax rate and no additional tax or surcharge will be applied. The corporation is trying to bring more [...] Continue Reading »

Areas under NDMC to pay double property tax

Areas under NDMC to pay double property tax
Delhi – North Delhi Municipal Corporation (NDMC) has proposed to double the  property tax in the area under its supervision. There is a hike of 170% in the base unit area value and 3-5 % increase in the rate of tax across all categories of colonies, as per the proposed budget by commissioner P K [...] Continue Reading »

Revised betterment tax to fetch government Rs 20 cr

Revised betterment tax to fetch government Rs 20 cr
Delhi - The property tax is likely to go up as East Delhi corporation proposed to increase the property valuation by 1.6 times. The budget was proposed by the Education Management Corporation (EDMC). They revised the  professional tax and electricity tax on power generators of five KW and new parking charges on minute basis to [...] Continue Reading »



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