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 :: VAT Audit :: ACCOUNTING STANDARDS :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: TDS :: articles on VAT and GST in India :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: VAT RATES :: ACCOUNTING STANDARD :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment
 
 
General »
 Simplified one page Income Tax Return Form: Changes to keep in mind before filing tax return for AY2017-18
  No proposal to replace Income Tax with Banking Cash Transaction Tax
 GST coming July 1 despite calls for delay: Revenue Secretary Hasmukh Adhia
 Centre introduces provision of taxation on NPS in Income Tax Act
 Income Tax Department Clarifies On Cash Withdrawal From Banks, Post Offices
 The Goods And Services Tax (Compensation To States) Bill, 2017
  Goods and Service Tax (GST) and Real Estate Sector
 New Income Tax Rules On Home Loan Come Into Effect
 Here's how late filers can save on stress and taxes
 Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib ?Kalyan Yojana, 2016
 Companies should invest in upgradation of tax technology

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