Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: due date for vat payment :: VAT RATES :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: cpt :: ACCOUNTING STANDARDS :: VAT Audit :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company
 
 
« Budget Extravaganza »
 Budget 2017 does little to expand taxpayer base, salaried still bear brunt of taxes
 Six things Finance Minister did not tell you in Budget 2017
 Budget 2017 and its place in history
 Tax Dept need not reveal reason for raid even to Appellate Tribunal, proposes Budget 2017
 Budget 2017 proposes a fee for delayed filing of income tax return
 No Cash Transactions Over Rs 3 Lakhs, Reduction In Income Tax And Other Highlights From Budget 2017
 Union Budget 2017: Here are the expectations of real estate sector
 10 things to expect from Finance Minister Arun Jaitley
 High expectations from budget
 India unveils Budget for recovery after cash crunch
 Increase income tax exemption limit’

Capital-based property tax likely to be budget highlight
February, 16th 2013

Municipal commissioner Shyam Wardhane will present the budget for 2013-14 and also the revised budget for the current fiscal on Monday with the focus on property tax. The capital-based property tax is new for citizens. The advertisement and lease charges are also likely to be revised.

The Nagpur Municipal Corporation's general body also decided that henceforth the civic chief's budget will be presented on February 15 every year.

The capital-based property tax was announced in the budget presented last year. But the new property tax system could not be introduced because of delay in completing the process. The new system aims for transparency in tax bills.

The tax of residential consumers is expected to increase over two times while it will be three times for commercial taxpayers.

Sources told TOI that the budget could comprise new developmental works and good schemes. Unlike his Mumbai counterpart, Wardhane may not announce that local body tax (LBT) is to replace octroi. The LBT is likely to be introduced in Mumbai from October and in the city from April 1.

Though the civic chief's budget will be based on actual revenue in eight months from April 1 to November 30, 2012, the revenue has increased to a great extent up to January end. According to NMC's data, the revenue is at Rs 715.74 crore as against last year's Rs 619.79 crore. The hike is 15.48%, almost 6% more than natural annual growth.

Though the revenue may not touch Rs 1,000 crore, the NMC may end up with Rs 850 crore as against last year's Rs 780 crore. Considering this, the civic chief's 2013-14 budget could be less than Rs 1,200 crore.

In March last year, the then municipal commissioner Sanjeev Jaiswal presented a budget of Rs 1,110.08 crore for 2012-13 and Rs 947.64 crore revised budget for 2011-12.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Publishing Management System PMS News Management System Publishing Management System Development Online News Management System for media company custom Publishing management system development Survey management system Market Res

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions