SDMC rolls back hike in property tax for small commercial properties

[] The South Delhi Municipal Corporation has rolled back an increase in property tax for small commercial properties and said that they would now have to pay the tax at rates applicable in 2017-18

The civic body in south Delhi, has rolled back an increase in the rate of tax for small commercial property owners, for the current financial year, in a move that will benefit nearly 30,000 people, officials said, on July 2, 2018. The South Delhi Municipal Corporation (SDMC) in a statement, said owners or occupiers of properties sized less than 150 sq metres, will have to pay property tax for the financial year 2018-19 at the rate of taxes applicable in the last fiscal.

You are reading: SDMC rolls back hike in property tax for small commercial properties

Read also : Property rates & trends in Virugambakkam, Chennai

[] SDMC extends ambit of property tax amnesty scheme to all colonies

Mayor Narender Chawla said, property tax rates in respect of such properties have been ‘rolled back’, to bring the rates back to the level existing in financial year 2017-18. The SDMC’s standing committee chairperson Shikha Rai, said the excess amount of property tax already paid till date on this account, with respect to those properties, will be adjusted during the financial year 2019-20.

Read also : No funds shortage but lack of willingness on part of states: SC on solid waste management

“Around 30,000 owners or occupiers of such properties will be benefited, with this liberal decision of the SDMC. It wanted to give relief to small commercial property owners, with an aim to protect them from any enhanced amount of property tax,” she said. These properties will, henceforth, be levied tax as per rates applicable in their respective category of colonies, i.e., 10 per cent, 12 per cent and 15 per cent, instead of the 20 per cent rate, mentioned in the original schedule of taxes for the financial year 2018-19, the SDMC said.

Copyright belongs to:

Category: Lifestyle

Debora Berti

Università degli Studi di Firenze, IT

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button