One-time settlement policy for defaulters of property tax

Tribune News Service

Ludhiana, September 18

The state government has announced a one-time settlement (OTS) policy for property tax defaulters and issued a notification regarding the same. MC Commissioner Sandeep Rishi and a few AAP MLAs shared the information here on Monday.

As per the norms, residents who have not paid property tax in the past were liable to pay 20 per cent penalty and 18 per cent annual interest on the pending tax. But under the OTS policy, the residents can now pay the pending tax in lump sum without penalty and interest by December 31, 2023. A 100 per cent penalty and interest waiver had been announced by the state government, Rishi said.

MC officials said in case, the residents were not able to pay pending tax by December 31, 2023, in lump sum, they would be eligible for 50 per cent penalty and interest waiver on the payment of lump sum from January 1, 2024, to March 31, 2024. After March 31, 2024, the residents have to pay full penalty and interest on the pending tax, as per the norms.

The legislators present at the MC office said the AAP-led state government was working for the betterment of the state. Residents should take benefit of the policy and submit their pending tax without any penalty and interest by December 31, 2023.

10 per cent rebate for current financial year

The MLAs and civic body officials said residents could also avail 10 per cent rebate on the payment of property tax for the current financial year (2023-24) till September 30. The officials said 10 per cent rebate was being given only on the payment of tax for the current financial year.