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: empanelment :: ACCOUNTING STANDARDS :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: Central Excise rule to resale the machines to a new company :: TDS :: ACCOUNTING STANDARD :: VAT RATES :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: list of goods taxed at 4%
 
 
« General »
 Tax breather for foreign investors: All you need to know
 What the increase in tax collections does not tell us about Indian economy post demonetisation
 India’s crazy retrospective tax on foreign funds will tarnish country’s reputation
 How tax related, PAN grievances can be resolved through E-Nivaran
 Tackling income tax exemptions for equities and agriculture
 Amfi wants tax benefits for retirement plans
 Top five factors which could chart market direction in the coming week
 Tax rate hikes boost shadow economy
 Tax mop-up may decline in new amnesty scheme
 Weeks before Budget, Finance Minister Arun Jaitley lists out benefit of low tax rates
 Second home loan tax benefits

7-fold rise in property tax income of Pune Municipal Corporation
May, 26th 2014

Pune Municipal Corporation's (PMC) income from property tax has increased seven-fold in a decade.

The civic administration recently shared the details of the tax collection with the corporators. Where the revenue earned from property tax in 2003-04 was Rs 111 crore, the tax collection for 2013-14 amounted to Rs 750 crore.

Based on an assessment by the PMC, owners of around 7.5 lakh properties in the city, including open plots, commercial and residential properties, are liable to pay the tax.

"The improvement in the recovery system is one reason that has boosted revenue. There were many properties which were not under the tax ambit. The civic body conducted several drives over the years to take care of such properties," said Hemant Nikam, head of PMC's property tax department.

Barring 2007-08, when the total revenue reduced by Rs 9 crore, the property tax collection has been steadily rising. Civic officials cited better recovery process and proper distribution of bills as the reason behind the good collection. Earlier, many property owners did not get the bills on time and, therefore, avoided paying the tax. Recently, the PMC conducted a drive where they used brass bands and collected property tax dues of over Rs 90 crore.

The bands were hired to play loud music in front of such properties, shaming the owners into clearing their dues. Officials from the property tax department accompanied the bands to collect the payments. The drive was launched in March 2013 on an experimental basis. After getting a good response, the drive was converted into a regular scheme.

Civic officials said the annual discount offered in property tax to property owners has also increased the revenue. Citizens who pay their property tax dues before May 31 get a discount of 10% on their bills.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Outsourcing Test Solutions Software Testing Software Bug Testing Software Issues Tracking Software Issue Fix Software Code Optimization Database Design Optimization

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