Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: VAT Audit :: ACCOUNTING STANDARD :: form 3cd :: articles on VAT and GST in India :: empanelment :: Central Excise rule to resale the machines to a new company :: cpt :: VAT RATES :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: TDS :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4%
« General »
 India’s GST among most complex in world, and it is 0% tax rate that is hurting the idea
 Can’t overrule courts with retrospective amendments, says Supreme Court
 Why tax planning should be an all-year round activity
 8 financial tasks you should do in the next 30 days
 Income Tax department may defend CPC in returns fraud case
  Income tax department sends notices to investors over tax treaty gains
 Seven months after GST rollout: Time for handholding over, Centre to intensify efforts to curb tax evasion
 Individual angels may get tax relief too
 The differences between tax and cess
 Startups that raised funds from angel investors face tax scrutiny
 Tax collection assumptions in India's budget ambitious

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 2018 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