Tag: #PropertyTax

Property owners are permitted by the government to calculate their LTCG tax and make a lower tax payment.

August 7, 2024

NEW DELHI: On Tuesday, the government announced a major tax break option allowing homeowners who purchased homes before July 23, 2024, to select between two tax rates for long-term capital gains (LTCG) tax. The LTCG was supposed to drop from 20 to 12.5% in the Budget 2024–25, however the indexation advantages were eliminated. The revised […]

Property owners are permitted by the government to calculate their LTCG tax and make a lower tax payment.more

The government of Karnataka proposes a bill to tax unapproved buildings’ property.

July 24, 2024

BENGALURU: On Monday, the Karnataka government introduced two crucial bills in the legislative assembly aimed at increasing revenue and preventing water theft. The Karnataka Municipalities and Certain Other Law (Amendment) Bill, 2024, and the Karnataka Irrigation (Amendment) Bill are designed to hold officials accountable for lapses in property tax collection and curb water theft from […]

The government of Karnataka proposes a bill to tax unapproved buildings’ property.more

Bengaluru Civic Body Collects Just Rs 463 Crore Property Tax Through OTS.

July 11, 2024

BENGALURU: The BBMP’s ‘One Time Settlement’ (OTS) initiative, aimed at recovering overdue taxes, has seen a lackluster response. With the July 31 deadline nearing, the civic body has collected just Rs 463.03 crore, leaving Rs 624.88 crore unpaid. BBMP officials have collected Rs 73.9 crore in the Bommanahalli zone, with Rs 82.77 crore outstanding. In […]

Bengaluru Civic Body Collects Just Rs 463 Crore Property Tax Through OTS.more

The Delhi civic authority will no longer accept checks for the payment of property taxes as of July 1.

June 7, 2024

NEW DELHI: Due to the problem of unpaid checks, the Municipal Corporation of Delhi (MCD) announced on Wednesday that it will stop accepting property tax payments by check as of July 1. According to a statement from the civic authority, property taxes would need to be paid digitally starting next month via UPI, wallets, demand […]

The Delhi civic authority will no longer accept checks for the payment of property taxes as of July 1.more

The Bengaluru civic government is owed Rs 711.1 crore in taxes by over 3.60 lakh properties.

May 22, 2024

BENGALURU: Bruhat Bengaluru Mahanagara Palike (BBMP) is having a lot of trouble getting property taxes from some of the most prominent establishments in the city, including hotels, malls, developers, educational institutions, and charity trusts. Approximately 3.63 lakh homes owed Rs 711.1 crore in taxes as of May 18. With 57,043 houses owing Rs 95 crore, […]

The Bengaluru civic government is owed Rs 711.1 crore in taxes by over 3.60 lakh properties.more

Mumbai: Due to unpaid property taxes, BMC notifies five contractors working on metro projects.

April 20, 2024

On Tuesday, the Mumbai civic body announced that it had sent final notices to five contractors involved in different metro rail projects in the city for failing to pay property taxes totaling approximately Rs 326.22 crore. The Brihanmumbai Municipal Corporation (BMC) said in a release that these enterprises have received final warnings requiring payment within […]

Mumbai: Due to unpaid property taxes, BMC notifies five contractors working on metro projects.more

The local authority of Bengaluru cannot demand upfront payment of the 50% tax differential: HC

February 21, 2024

BENGALURU: The BBMP chief commissioner cannot, the high court said, demand that 50% of the property tax that was allegedly under-assessed be paid in full upfront before issuing an order under Section 144 (15) (e) of the BBMP Act. This was mentioned by Justice S. Sunil Dutt Yadav in his interim ruling last Friday, which […]

The local authority of Bengaluru cannot demand upfront payment of the 50% tax differential: HCmore

Frequently Asked Questions (FAQs) on Goods and Services Tax (GST)

GST must be paid by the lessor on rent if the property is utilized for business.

January 19, 2024

MUMBAI: The Authority for Advance Rulings’ Rajasthan bench has ruled that if a lessee (who is registered for GST purposes) uses a residential property for business activities, then GST (Goods and Services Tax) is imposed on the rent. In the instance of Deepak Jain, the petitioner, who rented out his property to a private limited […]

GST must be paid by the lessor on rent if the property is utilized for business.more

Tag: #PropertyTax

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