property tax
Chandigarh- The monthly housing meeting of Chandigarh Municipal Corporation held on January 31, 2013 resulted in elaborated calculation to levy house tax in the city. It proposed imposition of tax as follows- a) For owners having house more 125 sq yd or five marlas or 1360 sq ft area are suppose to pay house tax [...] 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 »
Pune Municipal Corporation (PMC) has recently decided to hike property tax by 6%. This will be the first hike after four years. Corporators at PMC standing committee meeting approved the hike for the financial year 2013-14 and it will be applied from April 2013. Earlier, the civic body had proposed to increase property tax by [...] Continue Reading »
New-Delhi- With the Chennai Corporation hiking the property tax, the IT companies are quite worried off late and are planning to meet the senior state government officials in a day or two pertaining the issue. A tax hike of about 50 to 200 percent was imposed on the IT industries. According to a senior official from an [...] Continue Reading »
Ropar- Ropar Municipal Council has given its approval for the imposition of property tax in the town against opposition by some of its councillors. The Punjab government had proposed imposition of property tax and few of the councillors opposed it saying that paying property tax would be a burden to the residents in the town. [...] Continue Reading »
Ahmedabad- The Ahmedabad Municipal Corporation (AMC) has proposed a 100 percent hike in tax for residential properties and 45 percent for non-residential properties. The annual property tax for residential buildings is likely to be raised from Rs 10 to Rs 20 per square metre. And for non-residential properties, the tax will be raised from Rs [...] Continue Reading »
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 »
The draft civic budget which was presented recently with an 8% hike in property tax in Pune for 2013-14 has been opposed by a citizen group in the city. Sajag Nagrik Manch, a citizen group, has opposed the said hike in property tax for properties in Pune. However, the municipal commissioner wants the hike to [...] Continue Reading »
Though the commissioner has proposed new taxes and hike in parking rates, East Delhi Municipal Corporation will not hike taxes and parking rates. The corporation is planning to develop more parking sites and had asked for a package worth Rs. 7500 crore from the Delhi Finance Commission for the work. It was decided in a [...] Continue Reading »
