1. Delhiites get big property tax relief after demonetisation

Delhiites get big property tax relief after demonetisation

Starting from this Friday, residents of the national capital will get a complete waiver of interest and penalty amounts on their property tax if the arrears are paid till February 28, 2017.

By: | New Delhi | Published: November 18, 2016 11:33 AM
delhi, delhi property tax, narendra modi, delhi tax relief, property tax delhi, property tax relief delhi, india, demonetisation, demonetisation effect, financial express People queue up at out side of banks ATM to get money in New Delhi. (PTI file photo)

Here is a good news for Delhi residents facing inconvenience due to the demonetisation decision of the Modi government. Starting from this Friday, residents of the national capital will get a complete waiver of interest and penalty amounts on their property tax if the arrears are paid till February 28, 2017. A decision in this regard was taken by the three municipal corporations of Delhi on Thursday.

ToI reported that the scheme may be extended beyond February with some conditions. Between March 1-31 next year, the penalty would be waived off but the residents would have to pay 50% of the interest amount. According to the report, the scheme is applicable to all types of properties including residential and commercial.

The decision of the municipal corporations has been strongly attacked by the opposition parties that claim that it is a political ploy ahead of the civic polls in the city next year. This scheme was earlier proposed in December last year, but it was not implemented then.

According to the report, property tax payers owe Rs 2,700 crore to the three corporations. Some of the taxpayers also have arrears of Rs 20 crore.

The civic bodies believe that tax and penalty waiver scheme would result in huge gains and help in reducing their debts. In the wake of the demonetisation scheme by the Central government, the civic bodies in the national capital have also decided to accept old Rs 500 and Rs 1000 notes until November 24.

Meanwhile, the opposition parties have also said that similar amnesty schemes didn’t fetch desired results in 2008 and 2009 as only 3% and 15% dues were recovered respectively.

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