MC to work on weekend to facilitate property tax payment, Real Estate News, ET RealEstate

December 31, 2023
1 min read
ludhiana civic body collects rs 2 crore property tax on december 30


LUDHIANA: The civic body collected around Rs 2 crore on Saturday as residents thronged to suvidha kendras to submit pending property tax without penalty and interest.

Till now, around 85,000 property tax returns have been filed by residents under the OTS policy and the civic body has generated revenue of around Rs 10 crore. As of now, the MC has collected around Rs 119 crore as property tax for the current financial year (2023-24).

The civic body has urged residents to avail the benefits of one-time settlement (OTS) policy and pay pending property tax without penalty and interest on Sunday, which is the last day to avail of benefits under the OTS policy. The civic body has also decided to keep its zonal suvidha kendras open from 9am to 2pm on Sunday.

As per norms, residents who have not paid tax in the past are liable to pay 20% penalty and 18% annual interest on pending property tax. However, under the OTS policy, residents can pay pending tax in lumpsum without penalty and interest by December 31.

A 100% penalty and interest waiver has also been announced by the state government. MC commissioner Sandeep Rishi said that this is a golden opportunity for residents. The benefit can be availed of only on lumpsum payment of pending property tax by Sunday, December 31.

  • Published On Dec 31, 2023 at 03:00 PM IST

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