Kolkata Municipal Corporation to launch a system of self calculation of tax from April

new property tax system based on capital value

By Accommodation Times Bureau

 

Kolkata, March 4, 2017: The Kolkata MC has come up with an innovative way to lessen the burden of the tax payers and rationalize the taxation system. The KMC have launched Unit Area Assessment system, which will begin from April, where the tax-payers can calculate their own quarterly tax liabilities on parameters mentioned by the KMC.

KMC plans to set the tax rate at much lower scale, 6% to 20% which is half of the current tax rate, 11%- 40%. The citizens living in apartments are engaged to pay around 40%. The new system will cover tax of only the area the flat owner owns and not the distributed share area value.

KMC will collect the 1st quarter based on existing system and the extra amount collected according to the current system which will vary once the new system launches, will be adjusted in the next quarterly.

The system will count the covered space by citizens like proximity of a road and if the width from 2.4 to 9 meters in the taxation value. The economic weaker section citizens living in the slums, colonies and housing schemes will be exempted from this rule and will only pay the nominal taxation amount.





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