Business Standard

Telangana waives off 50% property tax to ease financial struggles

As part of the tax waiver plan, all the domestic households who have to pay property tax up to Rs 15,000 in Greater Hyderabad Municipal Corporation (GHMC) limits will benefit a 50 per cent reduction

Hyderabad

As many as 13.7 lakh families will benefit in Hyderabad

IANS Hyderabad
The Telangana government on Saturday announced a 50 per cent domestic property tax waiver in Hyderabad city and 140 more places across the state as Diwali gift, amid financial difficulties being faced by people in times such as the coronavirus pandemic.
"As a Diwali gift, we have decided to give some relief to people on property tax," said K. Taraka Rama Rao, Municipal Administration Minister.
As part of the tax waiver plan, all the domestic households who have to pay property tax up to Rs 15,000 in Greater Hyderabad Municipal Corporation (GHMC) limits will benefit a 50 per cent reduction.
As many as 13.7 lakh families will benefit in Hyderabad, burdening the state government by Rs 196.4 crore.
"In other towns, up to 140 towns, we are extending a relief of 50 per cent on property tax up to Rs 10,000," said Rao, benefiting 17.6 lakh families and depriving the state government of Rs 130 crore.
Across the state, 31.4 lakh families will stand to benefit with this Diwali property tax bonanza, amounting to Rs 326.4 crore.
"We hope that people will be happy on this Diwali day," said Rao.
He also clarified that in the event of any taxpayer already paying 100 per cent property tax, the rebate will be adjusted in the next year.
The Municipal Minister said in the cabinet meeting on Friday evening, several issues were discussed and many decisions were taken.
Chief Minister K. Chandrasekhar Rao and other Ministers discussed that the financial position of people as well as governments has turned topsy-turvy because of the pandemic, leading to everybody struggling.
"It was discussed that some more help should be extended to people. Because everybody's position is not good this year. The CM asked us what more could be done to give more relief," he said about the developments leading to the tax waiver.
--IANS
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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Nov 14 2020 | 3:34 PM IST

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