Lifestyle

Demonetisation: Hyderabad tops in municipal tax collections among 22 cities

[ecis2016.org] The Greater Hyderabad Municipal Corporation has topped in tax collections, among 22 cities in the country, by collecting around Rs 190 crores, with people paying their property tax and other utility bills with the demonetised Rs 500 and Rs 1,000 notes

An analysis of data from the Ministry of Urban Development, for 22 corporations across the country, revealed that there was 312.04% increase in revenues in November 2016 (till 19th November), over the receipts they received in the entire month of November 2015. “While the 22 corporations’ property tax collection in November 2015 was Rs 274 crores, they have netted an amount of Rs 855 crores during this year in the corresponding month,” a Greater Hyderabad Municipal Corporation (GHMC) official said.

You are reading: Demonetisation: Hyderabad tops in municipal tax collections among 22 cities

Read also : Gurgaon Sector 51 property market: An overview

[ecis2016.org] Demonetisation: 3 Delhi civic bodies fetch Rs 7 crores in property tax

Among the 22 corporations, the GHMC stood first with a 2,350% increase, as its revenues for November 2015 were Rs 8 crores, which rose to a record Rs 188 crores from November 1 to 19, 2016 and majority of it comprising property tax and layout regularisation collection amount, coming after November 10 – after the centre allowed citizens to pay their arrears for essential services with the demonetised currency, he said. Kalyan, in Maharashtra, was in second position, by collecting Rs 170 crores, followed by Ahmedabad at Rs 150 crores.

Read also : Karnataka government mulls industrial node in abandoned Bharat Gold Mines land

“It appears that the tax payers preferred to clear off their utility dues with the demonetised denominations, which is a hassle-free process, rather than to line up before the banks for exchange of denominations,” the official claimed.

The unprecedented tax payments received in November 2016, is a definite advantage for the civic body, as it occurred without the usual intensive efforts which the corporation pursues every year, in the last quarter of the financial year, the GHMC official added.

Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org

Source: https://ecis2016.org
Category: Lifestyle

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button