Delhi Residents Get 10% Discount on Property Tax Payments Until June 30
Delhi residents have been offered a 10% rebate on property tax payments made before the deadline. The Municipal Corporation of Delhi (MCD) has extended Saturday hours to aid property tax payments until June 30.
Property TaxMcdDelhi ResidentsRebatePayment DeadlineReal EstateJun 20, 2024
Additionally, MCD is organizing camps across various locations in collaboration with Resident Welfare Associations (RWAs) and market associations. Property owners are encouraged to utilize the online portal, www.mcdonline.nic.in, for their transactions and geo-tag their properties. MCD has implemented multiple payment methods, including UPI, wallets, demand drafts, and online payment gateways, to streamline the process.
Advance tentative bills have been dispatched to 8.7 lakh taxpayers who fulfilled their tax obligations last year, providing an estimated amount due for the current year. Under Section 114 of the DMC Act, 2003 (amended), all buildings and vacant land within MCD's jurisdiction are required to pay property tax, which becomes due on April 1 each financial year. In the previous financial year, MCD saw a significant decline in property tax collection, with a total of Rs 2,137 crore collected, down from Rs 2,417 crore in FY 2022-23.
Frequently Asked Questions
What is the deadline for property tax payments?
The deadline for property tax payments is June 30.
What is the rebate offered on property tax payments?
A 10% rebate is offered on lump sum payments made before the deadline.
How can property owners make their tax payments?
Property owners can make their tax payments through multiple methods, including UPI, wallets, demand drafts, and online payment gateways.
Why is geo-tagging of properties important?
Geo-tagging of properties is important for efficient payment and record-keeping.
What was the decline in property tax collection in the previous financial year?
The decline in property tax collection in the previous financial year was 11.5%.
Related News Articles
Property Registration Scandal: 796 Documents Under Scrutiny for Violating Real Estate Laws
The registration department is investigating 796 property registration documents for non-compliance with real estate regulations, sparking concerns among developers and buyers.
Maharashtra Weather Alert: Heavy Rainfall Expected in Mumbai, Pune, and Other Districts
IMD issues yellow alert for Mumbai, red alert for Palghar and Pune; heavy to very heavy rainfall expected in the next 24 hours
Nagpur Townships Inspected by State-Appointed Panel, Issues Persist
A state-appointed panel inspected several townships in Nagpur, Maharashtra, but issues related to water supply, irrigation clearance, and inspection delays remain unresolved.
Indore Sees 12.8% Rise in Property Revenue During Festive October
The city of Indore recorded a significant 12.8% increase in property revenue during the festive season in October. According to Balkrishna More, the Deputy Inspector General of Registration for the Indore region, the surge in real estate activity can be a
Arvind Gurumurthy: A Renowned Legal Expert in M&A, Private Equity, and Corporate Law
Arvind Gurumurthy, a distinguished legal professional, has made significant contributions in the fields of M&A, private equity, and corporate law. With a successful seven-year tenure as Partner at Kochhar & Company, Arvind has extensive experience in hand
Arthur Laffer Buys $87,156 in NexPoint Diversified Real Estate Trust Stock: A Bullish Signal?
Arthur Laffer, the director of NexPoint Diversified Real Estate Trust (NXDT), has made a significant purchase of $87,156 in company stock. This move could signal his confidence in the company's future performance. Investors should consider this as a potential indicator of a bullish market play.