Tax
Soon, paying property tax in Chennai is going to be an easier task, thanks to the city corporation. The Chennai Corporation has taken this initiative of appointing at least five public and private sector banks for collecting payment of property tax. The facility is planned to be launched after Pongal. The participating banks would be [...] Continue Reading »
Residents of illegal colonies, villages and other resettlement colonies demanded the government to regularize these type of colonies over a meeting. They also urged to rate the electricity at subsidy basis and provide it to the residents of such areas. Large number of residents participated in the meeting organized by Delhi Vikas Morcha at Tughlakabad. [...] Continue Reading »
Now, properties in Bangalore will be identified by their new property ID. Bruhat Bangalore Mahanagara Palike (BBMP) is soon going to launch the new Property Identification Number (PID) by mid of February 2012. This came into being after the old numbers resulted in ineffective mechanisms of revenue collection. The civic body will operate by collecting [...] Continue Reading »
The property tax defaulters are getting sharper day by day! Bruhat Bangalore Mahanagara Palike (BBMP) which is already deprived of finance is being cheated by the tax defaulters. The civic body had so much debt on it because of less property tax paid and had to meet a revenue target. However, on its tax collection [...] Continue Reading »
A sign of relief for property tax payers within a month. Kolkata Municipal Corporation (KMC) has finalised the much awaited property tax waiver scheme to be on February 1, 2012. The civic body has worked day and night to prepare the list of big tax defaulters of the city. A target of around Rs 500 [...] Continue Reading »
A ray of hope for residents residing in old flats in South Mumbai. The much hyped capital value-based property tax system which was about to get launched is stalled for time being. The state civic administration who had proposed of the tax system has decided to table it later few months. As the upcoming polls [...] Continue Reading »
Indore Municipal Corporation (IMC) is all geared up to collect more property tax than last financial year! As against last years’s Rs 172 crore collection, the civic body is expecting a whopping Rs 250 crore as tax this fiscal year. It has managed to collect around Rs 150 crore this year against last year’s Rs [...] Continue Reading »
After a wait of four months, WB Governor has finally given a consent to the KMC (Amendment) Bill, 2011. The bill hold special interests for KMC and also speaks for waiving property tax for defaulters. The Governor instead of giving his consent for the bill, wanted to know what steps KMC had been taking against [...] Continue Reading »
As per latest research report, BMC is yet to recover Rs 8,014 crore as it stands pending from defaulters in Mumbai. The civic body is set to change the rateable procedure of property tax collection to capital value-based. But this recovery of such large amount has come as a shock to the corporation. According to [...] Continue Reading »
Is your property deeded in your name along with your wife’s? If yes, here you have an exciting news, you can enjoy full exemption from long-term capital gain tax while selling your property. Delhi High Court discussed with the government to declare the same. Also High Court has implementing the same plan on the new [...] Continue Reading »
