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Taxation

Property exhibition promises homes for all

Saturday, 06 February 2010 11:43 administrator
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The Times of India 06.02.2010

Property exhibition promises homes for all

TNN, 6 February 2010, 03:32am IST

PUNE: In an effort to cater to the demands of affordable homes, The Times of India has launched a special edition property exhibition, The Times Homes for All' Property Expo on February 6 and 7 at hotel Pride, Shivajinagar. There is no entry fee for the Expo which will remain open from 10.30 am to 7.30 pm, on both the days.

The Times Homes for All' Property Expo is slated to be one-stop shop for housing requirements with a special focus on affordable housing and budget homes. The expo has been conceptualised with the aim of providing a platform for property buyers to interact with builders and developers in the city who have projects catering to the middle and upper middle class.

The exhibition will be a perfect opportunity for property buyers to zero in on their dream home from the affordable projects on display at the exhibition.

For details, contact Shubradip at 9881198988 / Sandeep at 9850052180.
 

State okays revised SAS

Saturday, 06 February 2010 11:25 administrator
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Deccan Herald 06.02.2010

State okays revised SAS
Mangalore, Feb 5, DHNS:

The State government has okayed the revised Self Assessment Scheme (SAS) of property tax based on capital value proposed by the Mangalore City Corporation (MCC) with effect from 1-4-2008.
 

Addressing a press meet on Friday, Mayor Shanker Bhat said the revised scheme was approved by the government on January 29, 2009.

According to the revised SAS, the tax has been fixed at 0.5 per cent for residential structure, 1.5 per cent for commercial and 1.0 per cent for non-residential commercial structures, 0.1 per cent for 1,000 square metre non-agricultural vacant land, 0.025 per cent for more than 1,000 square metre upto 4,000 square metre land and 0.01 per cent for more than 4,000 metre non agriculture vacant land.

He said: “The property tax structure has come in for a change in Mangalore after a gap few years. Though the new Self-Assessment Scheme (SAS) of property tax based on capital value came into effect on April 1, 2008, replacing the old system of annual rental value (ARV), there was lot of confusion, protest against it. However, this revised SAS is final.” He appealed the citizens of MCC to pay the SAS property tax and help in the development of the City.

Those who have paid more taxes which was fixed during the reign of Administrator, will be adjusted while paying the SAS now.

The Mayor said that SAS can be paid in the 46 branches of 16 various banks in 53 revenue wards of the City Corporation limits. Personnel have been deployed in 15 ward offices, 2 sub offices and MCC to distribute the challan, handbook, details and prospectus on SAS and accept the applications. Assistants have been deployed to fill the SAS booklets. Measures have been taken to print the booklets on revised SAS.

Tax

MCC Commissioner Dr K N Vijayaprakash said that in 2008-09, the target was to collect Rs 18.53 crore tax. In the revised SAS system, MCC is expecting to collect a sum of Rs 26.42 crore.

There are 34,000 unidentified properties in MCC limits. Of which, a sum of Rs 7.89 crore will be collected this year. The survey of one ward on the property is still pending. The MCC limits has 1.84 lakh properties. Of which, 1.41 are residential property and 42,000 are commercial property. Citizens of MCC have to pay SAS from April 1, 2008, he added.

Dr Vijayaprakash said “in 2007-08, under annual rental value (ARV), a sum of 15.92 crore has to be collected. However, Rs 10.27 crore was collected. Rs 5.65 crore was pending. In 2008-09, under ARV, the opening balance was Rs 565 lakh.

However, only Rs 310 lakh was collected. In 2008-09, under SAS, the target was to collect Rs 14.87 crore. However, only 604 lakh was collected. Deputy Mayor Rajani Dugganna was present.

 

Banks to accept property tax

Saturday, 06 February 2010 02:08 administrator
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The Hindu 06.02.2010

Banks to accept property tax

Staff Correspondent

It can be paid in 46 branches of 16 banks

 

Revised rates applicable with retrospective effect from 2008-09

Adequate staff posted in ward offices to help tax payers in filling forms

— Photo: R. Eswarraj

MAKING A POINT: Mayor M. Shanker Bhat (right) and K.N. Vijayaprakash, Commissioner of the City Corporation, at a press conference in Mangalore on Friday.

MANGALORE: Property tax payers in the jurisdiction of the alore City Corporation can now remit the tax at 46 branches of 16 banks, according to Mayor M. Shankar Bhat.

Mr. Bhat told presspersons here on Friday that the revised rate of property tax, which was approved by the Government on January 29, was applicable with retrospective effect from 2008-09. Those who had paid the tax for 2008-09 at the old rate can have the excess amount adjusted with the current year’s dues before March.

Mr. Bhat said that a booklet containing details of revised tax rates and payment methods was being brought out. However, people need not wait for the booklets. The staff of the corporation would guide the people in filling up the forms. Adequate staff had been posted in all the 15 ward offices of the civic body, two sub-offices and a central office at Lalbagh for issuing application forms and pay-in slips of banks.

K.N. Vijayaprakash, Commissioner of the corporation, said that the civic body expected to collect Rs. 27.31 crore as property tax for 2009-10. This included Rs. 8.78 crore tax arrears for 2008-09. The civic body had collected Rs. 8.54 crore till December-end.

Last Updated on Saturday, 06 February 2010 02:09
 
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