10% rebate helps civic body collect Rs 14 cr property tax : The Tribune India

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10% rebate helps civic body collect Rs 14 cr property tax

10% rebate helps civic body collect Rs 14 cr property tax

Tribune News Service

Amritsar, September 17

With the offer of the state government to give 10 per cent rebate on depositing property tax under one-time settlement policy, the tax recovery has increased in the city. The residents were paying pending as well as current tax for 2023-24 fiscal, officials of the MC property tax wing claimed.

So far, the property tax wing has collected Rs 14 crore in the current financial year. To accommodate tax payers, the citizen facilitation centre and zonal offices of the municipal corporation (MC) opened on Saturday, the weekend holiday.

Apart from this, a large number of residents are paying property tax online through the MC web portal. As compared to the corresponding period last year, the MC has collected Rs 2 crore more tax till date. Last year, Rs 11.90 crore was collected by the MC till September 17. The MC has set a target to collect Rs 25 crore tax till September 30 this year.

Vishal Wadhawan, nodal officer, Property Tax Department, said, “The department would hold camps to collect tax in various markets. The camps would be organised for the benefit of traders with the help of the Mall Road Welfare Association, Focal Point Association and other business associations. Tax payers are being made aware through SMS service to pay their dues regularly.”

The Punjab Government had announced a one-time settlement (OTS) scheme for owners, who did not pay or had partially paid their property or house tax, levied up to March this year. Providing a major relief, the government waived-off all penalty and interest levied on the outstanding principal amount, which can be paid till December 31.

The property tax is calculated on the basis of covered and open area of commercial and residential properties.

The OTS is going to provide a major relief to defaulters, who are otherwise supposed to pay 20 per cent penalty and 18 per cent interest, on the outstanding principal amount of all previous financial years.

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