NEW CIVIC PROPERTY TAX BASED ON CAPITAL VALUE (PROS & CONS)

Mumbai Municipal corporation (MMC) by proposed amendment in the Principal Act intends to introduce Capital based Value system by merely deleting the word “Rateable Value” with purpose of augmenting the Revenue from Civic property tax from 1.4.2010 on wards with retrospective effect. However, in no distinct definition of “Capital Value” spelt More...

by admin | Published 5 years ago
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By admin On Saturday, February 2nd, 2013
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Procedure to determine Property Tax under BMC Act 1888

By Accommodation Times News Services Section 156 of the Act deals with rateable value of each such building and land determined in accordance with the provisions of the Act. Section 156 of the Act reads as under:  More...

By admin On Thursday, June 7th, 2012
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HUDCO planning to raise Rs. 10k cr. through tax free bonds

By Accommodation Times Bureau New Delhi: Today Housing and Urban Development Corporation (Hudco) said that, we are planning to raise approx Rs.10,000cr. through free bonds and other instruments this fiscal to fund More...

By admin On Thursday, May 17th, 2012
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Petition filed in HC seeking implement property tax ULB level reforms

By Accommodation Times Bureau Mumbai: The Bombay High has received a petition following to seeking to the Brihanmumbai Municipal Corporation (BMC) to implement the Jawaharlal Nehru National Urban Renewal Mission More...

By admin On Wednesday, May 9th, 2012
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1% TDS withdrawn on immovable property deals

By Accommodation Times Bureau On this Monday, the Finance Minister Pranab Mukherjee has announced the withdrawal of 1% TDS on immovable property deals. He said” The Finance Bill proposes that every transferee More...

By admin On Thursday, April 19th, 2012
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Urban development ministry to developers to pay adv tax for 3year

By Accommodation Times Bureau Mumbai: The minister of state for urban development Bhaskar Jadhav said that, “developers will have to pay property tax in advance for three years at the time of issuing commencement More...

By admin On Thursday, March 29th, 2012
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New Capital Value based property tax system to be tabled

By Accommodation Times Bureau Mumbai: In the previous year capital value based property tax system twice has been rejected, once again the proposal supposed to be tabled on Wednesday. As there is no agreement between More...

By admin On Friday, March 9th, 2012
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Civic-body seeks more time to implement capital value-based property tax system

By Accommodation Times Bureau Mumbai: On this Wednesday the state cabinet has directed to the Brihanmumbai Municipal Corporation (BMC) not do any changes in levying property tax based on the rateable value-based More...

By admin On Friday, September 11th, 2009
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Why not Individual billing of Property Tax

WHY NOT INDIVIDUAL BILLING OF PROPERTY TAX-? …. By SUDHAKAR DOKHANE President PEATA (I) Under the provisions of M.M.C. Act 1888, Municipal Corporation of Gr. Mumbai (MCGM) is authorised to collect More...

By admin On Wednesday, September 2nd, 2009
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The Unit Area Method of Property Tax

The Unit Area Method of Property Tax is being implemented from 1st April 2004. This is a historic reform in the administration of property tax laws and is designed to be citizen friendly, transparent, easy to calculate More...

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