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
Latest Expert Exchange
« Direct Tax »
 Time to do away with angel tax?
 CBDT directs tax sleuths to survey, inspect high value transactions
 Filing your income tax returns? Here are four challenges that you may face
 Filing your income tax returns? Here are four challenges that you may face
 Here's a list of things to remember while filing income tax returns this year
 How to fill salary details in ITR1 for FY 2017-18
 Filing income tax returns? You need to disclose these assets to the taxman
 Here's why you should not delay filing your income tax returns
 Six changes in ITR 1 form that you must know ITR 2018-19
 Here are top 5 ways to save money, and you won’t even feel the pinch
 Why checking Form 26AS is necessary Income tax return (ITR) filing

GVMC plans to get tough on vacant land tax defaulters
June, 03rd 2013

Vacant land tax (VLT) defaults are increasingly becoming a cause of concern for the Greater Visakhapatnam Municipal Corporation (GVMC), which could mop up only 58.8% of the total tax of Rs 17 crore from its 13,000 authorized vacant site owners in 2012-13 financial year.

GVMC collects 0.2% land or site value declared by an authorized agency such as the department of registrations as VLT. However, it has been unable to collect a large portion of the dues, which have mounted to Rs 35 crore in the last five years.

Successive commissioners, including present civic chief M V Satyanarayana, have failed to collect the dues and VLTs every year, which is supposed to be paid to GVMC by the owners annually.

The Port City has as many as 63,000 vacant land sites in the area spread across 534 sq km falling under 72 wards and 32 peripheral villages, according to Geographical Information System (GIS) data. If the owners of all vacant sites pay tax, GVMC can get VLT of Rs 66 crore every year.

However, Satyanarayana said that as on Saturday, June 1, 2013, the civic body possessed data, such as profile and addresses of the owners of only about 13,000 vacant land sites.

"GVMC's target for the year is Rs 24 crore, including Rs 7 crore dues of the previous year. We have been making all possible efforts to gather information of all vacant sites and reach the target of about Rs 66 crore from 63,000 assessments," the civic chief told TOI.

The corporation has decided to adopt a new strategy to tackle VLT defaulters, according to GVMC's additional deputy commissioner (revenue) R Somannarayana. GVMC will give wide publicity about VLTs and legal problems to its defaulters and also appeal to them to clear VLT dues before July 31 this year, the officials said.

After July 31, an outsourcing agency will collect all information, including documents, of the defaulters and submit it to GVMC for levying and collection of VLT. Besides, GVMC revenue staff will collect information from the sub-registrar office for valuing the tax as well as for the latest mutation and for sending notices to the parties or owners of VLTs.

"The service charges for collection of information and documents to private agency shall be borne by the vacant land or owners only," Somannarayana said. Besides, physical verification from the layout owners associations and neighbours will also be done along with the data collection, the official said.

GVMC collects 0.2% land or site value declared by an authorized agency such as the department of registrations as VLT. However, it has been unable to collect a large portion of the dues, which have mounted to Rs 35 crore in the last five years.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 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