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Govt woos tax defaulters with more discounts
With a view to encourage tax defaulters to clear Rs 540 crore dues, Greater Hyderabad Municipal Corporation (GHMC) has decided to enhance discounts under the early-bird scheme, wherein it plans to offer 10 per cent discount in the annual property tax to be paid before April (property tax to be paid in the beginning of the fiscal year).
Hyderabad: With a view to encourage tax defaulters to clear Rs 540 crore dues, Greater Hyderabad Municipal Corporation (GHMC) has decided to enhance discounts under the early-bird scheme, wherein it plans to offer 10 per cent discount in the annual property tax to be paid before April (property tax to be paid in the beginning of the fiscal year).
GHMC has been implementing the ‘Early Bird Tax Rebate Scheme’ in the city since 2014-15 financial year. A senior GHMC official told The Hans India that they had already sent proposals to the State government regarding the subject. Explaining about the discounts, an official said about 10 per cent concession would be given on the annual tax if defaulters paid before April 2016.
The concession would be reduced to 3 per cent in May 2016 and to 1 per cent in June 2016, the official added. He further said the early-bird scheme would help the GHMC recover about Rs 500 crore arrears from defaulters.
Commenting on the current financial year’s property tax collection, the GHMC official said the civic body had so far collected about Rs 550 crore and was expecting to collect Rs 1,100 crore by the end of March.
The official added that Rs 1,040 crore was collected towards property tax during the previous financial year (2014-15). The State government in December last had reduced the annual property tax of 4.5 lakh residents, who paid less than Rs 1,200, to Rs 101.
About Rs 200 crore revenue had been lost due to reduction of house tax from Rs 1,200 to Rs 101 and Rs 100 crore in paper adjustments, the GHMC official said. “Or else, the property tax target would have been Rs 1,300 crore,” he said.
