Karnataka Govt Extends OTS Scheme for Property Taxpayers in Bangalore
The One-Time Settlement scheme for property tax arrears in Bangalore has been extended till September 30, offering a complete interest waiver and halved penalties.
Karnataka GovernmentProperty TaxOts SchemeBangaloreBbmpReal Estate MumbaiAug 09, 2024
The OTS scheme aims to provide relief to property taxpayers in the BBMP area by offering a complete interest waiver on outstanding dues. Additionally, penalties on overdue amounts have been halved, according to Deputy Chief Minister and Bangalore Development Minister D K Shivakumar.
For residential and mixed-use properties, the recovery of property tax arrears will be limited to five years for revisions and unassessed properties, giving significant relief to property owners. The BBMP has also launched a helpline to assist property taxpayers with the OTS scheme.
The extension was announced by Deputy Chief Minister D K Shivakumar on August 8, following public requests. The scheme was earlier extended till July 31 and later till August 31 due to technical glitches.
Around 2.74 lakh property tax defaulters in the city limits can avail of the benefit under the scheme. However, only around 80,000 out of 4,00,000 property tax defaulters have availed themselves of the OTS scheme so far.
Information
The Bruhat Bengaluru Mahanagara Palike (BBMP) is the municipal corporation responsible for the civic and infrastructural needs of the city of Bangalore. The BBMP has been facing challenges in collecting property taxes from defaulters, and the OTS scheme is an effort to encourage taxpayers to clear their dues.
The Karnataka government has been taking various initiatives to improve the ease of doing business and living in the state. The extension of the OTS scheme is another step in this direction, aiming to provide relief to property taxpayers and encourage them to comply with tax laws.
Frequently Asked Questions
What is the One-Time Settlement (OTS) scheme for property tax arrears in Bangalore?
The OTS scheme is an initiative by the Karnataka government to provide relief to property taxpayers in the BBMP area by offering a complete interest waiver on outstanding dues and halved penalties.
Who is eligible for the OTS scheme?
Property taxpayers in the BBMP area who have outstanding dues can avail of the OTS scheme.
What is the deadline for availing of the OTS scheme?
The deadline for availing of the OTS scheme has been extended till September 30.
How many property tax defaulters are expected to benefit from the OTS scheme?
Around 3 lakh property tax defaulters in the city are expected to benefit from the OTS scheme.
What is the contact number for the BBMP helpline for the OTS scheme?
The contact number for the BBMP helpline for the OTS scheme is not specified in the article.
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