The Hindu 24.09.2009
New property tax discount proposed
Staff Reporter
NEW DELHI: To increase revenue flow to the Municipal Corporation of Delhi and give monetary benefits to taxpayers who pay their property tax after the first trimester ending June 30, the civic authorities have decided to introduce a new discount.
The decision was taken at a meeting of the MCD Standing Committee here on Wednesday.
According to Standing Committee chairman Ram Kishan Singhal, the MCD at present offers a 15 per cent discount to only those who file their property tax returns between April 1 and June 30 of the financial year: “But we are now proposing that a discount of 10 per cent and 5 per cent be given to all those taxpayers who file their tax in the subsequent trimesters ending September and December respectively.”
“The discount will give the late taxpayers who file their tax after June an incentive to file their taxes throughout the year instead of waiting for March next to do the same. This will also ensure regular flow of revenue to the MCD from tax receipts throughout the year,” he added. The civic agency’s executive wing initially had reservations over whether such discounts could be provided within the ambit of the existing Delhi Municipal Act, 1957, but after being cleared by the Standing Committee on Wednesday the Municipal Commissioner agreed to implement it after the proposal was cleared by the MCD House as well.
As part of its existing amnesty scheme launched earlier this month, the civic body is already providing full waiver of penalty and interest on outstanding payment to defaulters who pay their property tax dues before October 31 this year.
