Property tax collection rises by 114% in Gurugram

By Accommodation Times Bureau GURUGRAM As compared to previous year, Municipal Corporation of Gurugram (MCG) has seen a dual increase in property tax collection between December 2016-17. According to the MCG website, the property tax collection from December 2015-16 was Rs 177.4 crore, tax collection between December 2016-17 was Rs 378.29 crore

Government offices in Ludhiana at top of the defaulters list for property tax

By Accommodation Times Bureau   Ludhiana, March 3rd, 2017: The civic officials are onto recovering the property tax amount from city residents. Apparently the top defaulters in the list are government offices which haven’t cleared their dues of property tax.  The MC officials have decided to seal the properties under section 12-B and

Around Rs. 258 crore collected by South Delhi civic body under property tax amnesty

By Accommodation Times Bureau   South Delhi Civic body collected almost Rs. 258 crore under the property tax amnesty. The scheme launched in last week o November, 2016.  The amnesty law allows defaulters to pay dues without penalty or interest on the amount. Almost Rs. 170 crore was collected over past 3

Pradeep Jain and 10 other directors of Parsvnath Developers restrained from leaving the country

By Accommodation Times Bureau   The Delhi high court has compelled Pradeep Jain, chairman of Parsvnath Developers Limited and other 10 directors from the firm from leaving of the country under the case for delay in delivery of Paramount project.  The complaint was registered by the Paramount Residents Welfare Association to the

Budget’s influence on housing taxation

By Accommodation Times Bureau.   According to the recent Parliamentary General- Budget for the year 2017-2018, held on February 1st, 2017. The Union Minister of Finance and Corporate Affairs Shri Arun Jeitley presented various growth empowerment topics, one of the main aspects focusing on the affordable housing.  Shri Arun Jeitley said how

Tax Deducted At Source (Tds) On Property Transactions

By Accommodation Times News Service By Rajkumar Adukia, LL.B Introduction “A tax is not a voluntary payment or donation, but an enforced contribution, exacted pursuant to legislative authority" and is any contribution imposed by government whether under the name of toll, tribute, impost, duty, custom, excise, subsidy, aid, supply, or other name.” (Black’s

Property tax in Bengaluru to go up by 20-25% from April 1

  By Accommodation Times News Service Owners of non-residential properties will have to pay 25% more across all zones You may complain of bad roads and garbage heaps in your neighborhood, but now gets ready to pay more property tax from April 1. The BBMP council on Saturday decided to hike property tax

Pay double property tax if own illegal property

By Accommodation Times News Service Be ready to pay double property tax if you own an “illegal” property. The Brihammumbai Municipal Corporation will start collecting penalties for unauthorized structures at twice the property tax levied on the entire area. A recent circular directed by BMC its assistant and assessor and collector

THE LATEST MUNICIPAL POLICY ON PROPERTY TAXES

By Accommodation Times News Service By C A Vimal Punmiya Highlights: 1. New System of Property Taxes will be applicable with effect from 01.04.2010. in the present system, the property tax is based on Rateable Value fixed at the time when the building receives its occupation certificate and the same does not changes till the building

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