property tax in Mumbai
Unsatisfied property owners in Mumbai are planning to move court over the new way of calculating property tax. There had been already many criticisms in the past against the imposition of property tax in Mumbai and its suburbs with retrospective effect. The property tax system based on capital value that has been planned recently but will [...] Continue Reading »
The new property tax system by Brihanmumbai Municipal Corporation (BMC) has been opposed by the real estate builders. The developers have even showed their support to consumer associations protesting against the tax system. According to the new system, the property tax is computed based on the capital value of the property as against the earlier system of going [...] Continue Reading »
Brihanmumbai Municipal Corporation (BMC) has given a relief to the residents of Mumbai by announcing an extension in dates for payment of property tax. Now, the last date for paying the new capital value based property tax is extended by three months. However, an official announcement is yet to be made. For many days, citizens [...] Continue Reading »
Now that Brihanmumbai Municipal Corporation (BMC) has given grace period for the citizens to pay their property tax by March 31, it is not able to collect pending revenue from several central and state government agencies for the past several years. According to a data, BMC has to collect property tax worth Rs 155 crore on central [...] Continue Reading »
The new capital value based tax system which was being objected by the citizens all this while, has been given an extension of two months grace period. The citizens can now pay as per the old rates up to March this year. The residents have to visit the assessor and collector department at the local [...] Continue Reading »
Brihanmumbai Municipal Corporation (BMC) has planned to give health insurance of up to Rs 3 lakh for those citizens who have paid property tax this year. A whopping property tax of Rs 2,156 crore has been collected this year, contributed by about 15 lakh owners of properties in Mumbai. According to BMC these property tax [...] Continue Reading »
With the new property tax system in place, the Property Owners’ Association (POA) has called for a meeting, in which they asked the BMC to reconsider the new tax system. The new capital value-based property tax system has not gone well with the owners/landlords as it does not offer any cap for buildings that got [...] Continue Reading »
With the new property tax bills arriving, residents from Mumbai suburbs have joined hands against it. With this, the rest of the city also is not behind and has melded into chorus. The residents claim that the new system is ‘draconian’ and has slapped exorbitant arrears which have to be paid within March 15. As [...] Continue Reading »
In yet another instance, Brihanmumbai Municipal Corporation (BMC) has failed to recover dues worth Rs 2800 crore as per internal audit reports. Also, they have failed to recover another Rs 2264 crore dues from the state. Around 51 audit reports were prepared contain 1.5 lakh audit notes. The civic body preferred to stay silent over [...] Continue Reading »
Nagpur- As soon as the Nagpur Municipal Corporation (NMC) proposed cash value-based property tax technique, they committed that the stress will be more than twice the existing tax and thrice the current taxes pertaining to business oriented taxpayers. However, the tax may rise if anyone includes the 20-30% additional tax for essential services. If the [...] Continue Reading »
