Telangana govt waives 90% arrears interest on property tax

Hyderabad: The Telangana government on Wednesday issued orders waiving off the 90 per cent accumulated arrears interest on property tax, provided the taxpayer clears the principle amount of the property tax dues till the financial year 2022-2023.

The Greater Hyderabad Municipal Corporation (GHMC) Commissioner and the Director of Municipal Administration requested that the government consider a waiver of the interest amount. The government ordered a waiver of 90 per cent on accumulated arrears interest on property tax, provided the tax payer clears the principal amount of property tax dues till the Financial Year 2022-2023, together with 10 per cent of interest on accumulated arrears at one go in respect of all properties, including private properties and government properties, that were existing in the GHMC limits and other ULBs under the ‘One Time Scheme’ (OTS).

This scheme is also applicable to all those taxpayers who paid their entire property tax dues, including interest /penalties, up to March 2023 during the current Financial Year prior to its coming into force, 90 per cent of such interest shall be adjusted against future payments.