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: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: VAT RATES :: cpt :: TDS :: empanelment :: VAT Audit :: articles on VAT and GST in India :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd
 
 
General »
 Shah gets notices over civic tax dues
 Tax revenue down in first six months after prohibition
 Post demonetisation, Income Tax department sends 30 cases of irregularities to Enforcement Directorate, CBI
 Don’t rush into a new tax without being prepared
 Can’t tax income from palace rent: Supreme Court
  Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- (Updated as on November 30, 2016)
 Cases for tax scrutiny will be selected by machines
 Time to revisit 1997 direct tax rates, says P Chidambaram
 Lok Sabha passes Bill to tax black money deposits post demonetisation
 Last day to pay property tax with old notes
 Income tax department asks IDS declarants to pay tax by 30 November

Most building owners in Kochi fail to file tax papers
May, 06th 2014

With majority of the building owners failing to file self-assessment forms of property tax, the Kochi Corporation is taking up the task of assessing the buildings.

Only 30 per cent of the nearly 4 lakh building owners came forward to file the assessment forms before the March 31 deadline. The reluctance of the building owners to file the assessment forms and clear the arrears have hit the corporation hard as it denied the local body tax to the tune of Rs. 18 crore.

The building owners could file the forms only after clearing the tax arrears. Those who have not filed tax assessment could include the owners of unauthorised buildings, those who have made unauthorised constructions in the permitted structures and who have tax arrears against their names. “Now that majority of the building owners have failed to file the returns, the local body will start assessing the buildings for tax shortly,” said Deputy Mayor B. Bhadra.

The officials of the Revenue Department of the local body will start assessing the buildings after crosschecking the details with the documents available at the dossier of local body. After the assessment of taxes, the tax payers would have the option of appealing against the assessment. Appeals would have to be filed with the Tax Appeals Standing Committee of the local body, said Ms. Bhadra.

During the assessment, the officials of the local body would look for alterations and modifications in buildings that were introduced without the approval of the local body. Illegal constructions, change of classification of buildings and similar changes would be considered. Taxes would be slapped according to the changes that had been introduced in the buildings, she said.

A large number of buildings, which were constructed and assessed as residential ones, were converted into commercial buildings in the city. Such buildings would be reassessed as commercial ones and taxed accordingly, she said.

In the case of applicants who have filed assessment forms, the officials of the local body will start preparing demand notices. These tax payers too will get the option of filing appeals against the assessment with the Tax Appeal Standing Committee of the corporation. Random checking of the assessment forms and physical verification of the buildings will also be carried out as part of the new assessment system. The new assessment system was introduced as part of a government policy to revise taxes. It was 17 years ago that the property tax was last revised, she said.

 

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

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