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: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: VAT Audit :: ACCOUNTING STANDARD :: VAT RATES :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: cpt :: form 3cd :: articles on VAT and GST in India :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: empanelment
 
 
General »
 Companies should invest in upgradation of tax technology
 Top House tax writer suggests measures to mitigate the impact of the border tax
 Consumer goods distributors, wholesalers to bear the brunt of GST
 GST classification woes to continue
 There will be no tax on farm or agriculture income
 RBI, Income Tax Acts to be amended for electoral bonds, Jaitley says
  Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016
 I-T zeroes in on Mumbai trader in first crackdown after demonetisation
  Tax queries answered by Dilip Lakhani, Senior Chartered Accountant
 Income Tax Department Failed To Unearth Black Money Despite Information
 Govt filing twice as many cases as private cos in Supreme Court

MCD gets tax collection touches Rs 1500 crore mark
April, 13th 2011

For the first time, the Municpial Corporation of Delhi (MCD) has collected Rs 1500 crore as property tax. The civic agency has recorded an increased of 29.5% in property tax from last year.

According to MCD officials, the sharp rise in the transfer duty has made all the difference in the tax collection.

The MCD collected Rs 772 crore from property tax and and Rs 728 crore from transfer duty, an amount collected by Delhi government on sale and purchase of property, during 2010-11.

"This year, we have seen a sharp increase in transfer duty. Last year, we got just Rs 460 crore. We have also registered an increase in property tax," said Yogender Chandolia, chairman of MCD's standing committee.

MCD officials feared poor tax collection this year, as the ruling-BJP had announced that property tax will not be collected from unauthorized colonies and villages.

It had got a lot of negative publicity. Those who were earlier paying taxes, we feel, were discouraged from paying taxes this year. One reason for the increase in tax collection could be the special settlement schemes introduced by us.

We had waived-off penalty and interest on the outstanding property tax and people have made use of the settlement scheme," said a senior MCD official.

MCD has also reported 5.5% increase in the number of taxpayers. This year, close to 10.4 lakh people paid property tax as against 9.8 lakh people last year. MCD official attribute this increase to the various settlement schemes.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

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