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 STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: Central Excise rule to resale the machines to a new company :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: articles on VAT and GST in India :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ACCOUNTING STANDARD :: form 3cd :: TDS :: empanelment
 
 
Indirect Tax »
 Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016
 Tax department circular on indirect transfer put on hold
 Rising share of indirect taxes a step back to regressive era
 Double-digit Increase in Direct, Indirect Tax Collection, Says Arun Jaitley
 What is Direct tax?
 Indirect tax mop-up rate slows after note ban, Jaitley dismisses slowdown
 Tax buoyancy improves, thanks to indirect levy
 FM may unveil GST timeline, state compensation corpus on Feb 1
 Direct and indirect tax collection to exceed budget estimates this fiscal: Jaitley
 Startups brace up for legal war with Income Tax department
 Which investment is best suited for you to save tax

Government is the biggest property tax defaulter in Delhi
July, 08th 2015

Government departments in the national Capital are the biggest property tax defaulters. Even as Municipal corporations in Delhi battle a financial crunch, governmental and public utility departments owe the three civic agencies more than Rs2,000 crore in property taxes.

Senior officials, however, said that the while some of the property tax cases were pending in the high court, attempts were being made for an out of court settlement.

According to the data available with the corporations, departments that have defaulted include the likes of BSES Rajdhani and BSES Yamuna, NDPL, Delhi Police, Delhi Zoo, Sports Authority of India, Airport Authority and Housing & Urban Development Corporation Limited (HUDCO), Delhi Development Authority, Delhi Milk Scheme, Transport Authority (Sant Nagar) and IARC Pusa.

Various departments owe three municipal corporations a little over Rs 2085 crore as property tax, which according to senior officials could end their acute financial crunch. The defaulters owe the east, north and south corporations Rs 466 crore, Rs 743 crore and Rs 876 crore, respectively. Senior officials said while the amount has been collected over the years, cases in court have also resulted in loss to the corporation.

Senior officials in the corporation are in talks with the various defaulting agencies for an out-of-court settlement, senior officials said. “We have already initiated talks with various agencies to settle the matter out of court. While most of them are government agencies, a court case will cost time and money,” said a senior official.

The municipal corporations are currently under the debt of Rs 1,200 crore, and the condition could change if the various department pay their outstanding property taxes. “The three corporations need a little over Rs 1,200 crore to function properly and carry out the various development projects in their area. If these departments pay their due amounts, the civic agencies would not require any additional aides-in funds from the Delhi government,” said a senior official.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Desktop Application Development Outsourcing Desktop Application Development Offshore Desk

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