property tax
The Brihanmumbai Municipal Corporation (BMC) will penalise unauthorized constructions or extensions at twice the property tax levied on the entire illegal area. An amendment was made in April 2010, to section 152(a) of the Mumbai Municipal Corporation Act, 1888 to accommodate the new structure for calculation of property tax. The announcement was made by Municipal [...] Continue Reading »
The Indian real estate market is always attractive to Non resident Indians. This is because it is one of the safest investments as it gives better returns over time. Many NRIs own multiple properties in India and among them some properties are inherited. Real estate also has certain tax challenges like other investments. According to [...] Continue Reading »
Over 8,000 members of Arkavathy Layout Allotees’ Association, who have been denied their promised plots, have written to Prime Minister over the lack of concern of Bangalore Development Authority and the state government, to draw the PM’s attention to their condition. The Association have paid the sital value in the year 2006 and around 4,000 [...] Continue Reading »
The Bruhat Bangalore Mahanagara Palike (BBMP) is planning issue new property identification number for 30,000 pending properties. According to the BBMP Revenue Department, the issuing of PIDs will be delayed because of the ongoing election process which is expected to be completed in end of May. Presently, around 16 lakh properties have been issued identification [...] Continue Reading »
The three municipal corporations of Delhi have collected crores of rupees through property tax this financial year. East Delhi Municipal Corporation has collected Rs 140 crore and has been rated as the highest. There were 2,10,837 tax payers this year whereas, last year, the number of tax payers was 2,04,117. A corporation official said that [...] Continue Reading »
Nashik- Following an issue raised by an opposition leader at the general body meeting regarding selective waiving of property tax, the Nashik Municipal Corporation (NMC) asked the property tax department to conduct a probe on the issue. The opposition leader, Sudhakar Badgujar, had claimed that the deputy commissioner (taxes) has selectively waiving property tax worth [...] Continue Reading »
Ludhiana- The Municipal Corporation and district administration, had announced that the property tax has been implemented in Ludhiana from April 1 while the civic body has failed to fix the unit values and complete the survey by the deadline. The joint commissioner of municipal corporation, P S Ghuman, had announced that, property tax has been [...] Continue Reading »
New Delhi: Realty developers are likely to seek finance ministry’s help against the proposed property tax to be imposed on property sales. The realtors are worried that the additional tax would curb the growth of the real estate sector which is already facing slowdown. By inserting Section 43CA in the Income Tax Act, the government [...] Continue Reading »
Pune Municipal Corporation (PMC) is set to recover the long pending property tax of approximately over Rs 5 lakh in a new initiative. The civic body has decided to hire a brass band to play music to awake property owners who have not paid pending property taxes on time. This brass band will follow the [...] Continue Reading »
North Delhi Municipal corporation has been carrying out an identification technique in order to register all the unregistered properties in the city. Around 60,000 new properties have been registered with NDMC under the tax net within the past one year. Soon tax defaulters will be sent notice by post by the municipal corporation. With the [...] Continue Reading »
