Property Tax

MCD launches tax amnesty scheme SUNIYO for FY26, waives old dues, penalties

The Municipal Corporation of Delhi (MCD) on Wednesday announced the rollout of a one-time property tax amnesty scheme for the financial year 2025-26. Under the Sumpattikar Niptaan Yojana (SUNIYO), people will be able to pay the principal amount of property tax of the current year (2025-26) and the previous five years (2020-21 onwards) in one go and all their previous dues (before 2020-21), including interest and penalty will stand waived off, the municipal corporation said. The MCD also noted that a similar one-time measure launched in 2022-23, the SAMRIDDHI scheme, also allowed full waiver of old arrears if the taxpayer paid recent dues i.e. due of five years for residential and six years for non-residential properties. The SUNIYO scheme will apply to all types of properties falling under the jurisdiction of the MCD. In his first General House meeting after taking over as Delhi Mayor, Raja Iqbal Singh on Wednesday also announced the removal of "user charges" linked to garbage ...

How to pay MCD property tax in Delhi by 30 June? Step-by-step guide

If you fail to make payment within the due date, a penalty of 1% on the unpaid amount is levied each month starting from the first day after the due date

Live in South Delhi? How to pay SDMC Property Tax online before 30 June

The property owners are responsible for paying property tax in South Delhi. It is applicable to various kinds of properties including commercial, residential and vacant lands.

NDMC issues 30-day notice for property tax payment, traders say 'excessive'

The New Delhi Municipal Council (NDMC) has issued showcause notices to 380 property tax defaulters, warning of strict action, including attachment and account freezing, if their dues remain unpaid. With the financial year 2024-25 nearing close, the NDMC has intensified its tax recovery efforts, identifying 3,200 taxpayers who have defaulted for three consecutive years, the civic body said in a statement. The defaulters have been warned of coercive measures if payments are not made within the stipulated time. "Under NDMC regulations, a 30-day show-cause notice is issued to 380 defaulters, followed by additional reminders. If there is no response or payment, the Council may take action, including property attachment, sealing, or account freezing," said the statement issued on Thursday. The NDMC, which oversees approximately 15,600 properties, aims to collect Rs 1,150 crore in property tax this year. As of mid-February, Rs 807 crore had been collected. The NDMC also announced that th

Know how your property would be taxed under new Income Tax Bill 2025

In respect to a property or its part held as stock-in-trade and not let wholly or partly at any time during the tax year, the annual value shall be nil for two years from the end of the financial year

Over 4.5 mn cards distributed by PM Modi among Svamitva beneficiaries in UP

Under the ownership scheme, Prime Minister Narendra Modi distributed property cards to property owners in various states, including more than 45 lakh cards in Uttar Pradesh, on Saturday, according to an official statement. The statement said Modi distributed more than 65 lakh property cards (Gharauni) under the scheme to property owners in over 50,000 villages of 230 districts in 10 states and two Union territories through video-conferencing. Uttar Pradesh Governor Anandiben Patel participated in the property card distribution programme organised in Barabanki district. The prime minister also interacted with the beneficiaries of the scheme in Barabanki. Chief Minister Yogi Adityanath attended the programme organised under the Svamitva Yojana through video-conferencing at his official residence. The statement quoted Adityanath as saying that more than 2.23 crore Gharaunis have been made across the country, while more than one crore Gharaunis have been made in Uttar Pradesh alone. Of

Tenants in Singapore may have upper hand in 2025 as leasing market cools

After jumping nearly 60 per cent in three years, the island-wide rental index has softened by 4 per cent over the last four quarters

Municipal corporations need to enhance own sources of revenue: RBI report

Municipal corporations need to enhance their sources of revenue through reforms in property tax, rationalisation of user charges, and better collection mechanisms, an RBI report has suggested. The elasticity of property tax revenues, the predominant source of tax revenue, can be improved through adopting property tax formulae which are more reflective of property valuation, it said. The 'Report on Municipal Finances' released by the Reserve Bank on Wednesday noted that the demand for high-quality public services in urban areas is growing rapidly with a rising urban population. "Yet municipal corporations (MCs) in India invested with this responsibility generate limited revenues and rely heavily on the upper tiers of the government for their funding needs, limiting their operational flexibility," it said. State-specific strategies to strengthen MC finances through local taxation reforms, better enforcement, augmenting institutional capacity and transparent financial management are .

Buying a property? Check stamp duty rates in key metro cities

Understanding stamp duty and registration charges is crucial for prospective homebuyers as these costs can add significantly to the overall price of property transactions

NDMC to give 5% rebate on property tax payments on or before Sep 30

The New Delhi Municipal Council (NDMC) has announced a five per cent rebate on the property tax payment on or before September 30, an official statement said on Friday. The rebate is also available on service charges of government properties, it said. "The assessment list is available on the NDMC website, www.ndmc.gov.in, and concerned tax payers may login by using user ID and password to view details of the property owned," the statement said. The council, which oversees municipal work in several central Delhi areas, advised the taxpayers to avoid the last-minute rush and plan their tax deposit well in time to get the rebate.

Capital gains tax changes may impact investment behaviour: Rashesh Shah

Buyback and tax-free dividend had a gap and an equalisation was needed. Volumes in F&O trading had gone up rapidly and, in a way, the increase in STT on F&O will protect investor interest, he said

NDMC's revenue collection for FY24 stands at Rs 3,795 cr, exceeds target

The New Delhi Municipal Council's revenues for the 2023-24 financial year exceeded its target, with property tax collection crossing the Rs 1,000-crore mark for the first time in its history, officials said on Wednesday. The New Delhi Municipal Council (NDMC) collected a revenue of Rs 3,795.30 crore from receipt sources such as property tax, licence fees, commercial revenue (water and electricity) and parking fees, it said in a statement. For the first time in the NDMC's history, the revenue from property tax crossed the Rs 1,000-crore mark, it said. "The NDMC has collected Rs 1,025.59 crore in property tax against a target of Rs 1,150 crore. The NDMC had collected property tax revenue of Rs 931.20 crore in 2022-23, Rs 950.75 crore in 2021-22 and Rs 690.78 crore in 2020-21," it added. During the 2023-24 fiscal, the NDMC collected Rs 1,811.71 crore in revenue from electricity and water supply against a target of Rs 1,659.95 crore. It had collected commercial revenue of Rs 1,503 cror

Report accurate land or building area to avoid assessment disputes

Preserve ownership and renovation documents to bolster case regarding property value

NDMC conducts seal drive in CP over non-payment of property tax dues

The New Delhi Municipal Council on Tuesday conducted a sealing drive in Connaught Place over non-payment of property tax dues, officials said. Five to six shops were sealed, with the drive going on till late evening, the officials said. The drive was carried out in Connaught Place's B, C, D and G blocks. Atul Bhargava, president of the New Delhi Traders' Association, demanded that there should be a uniform tax regime across Delhi. "The NDMC (New Delhi Municipal Council) should follow the tax regime of the MCD (Municipal Corporation of Delhi). Why are there separate tax regimes?" he asked. He also said the NDMC informed the landlords about the outstanding taxes but never reached out to the tenants, who were caught unawares by the drive.

K'taka Assembly passes bill slashing penalty on property tax in Bengaluru

The Karnataka Assembly has passed a bill to slash the penalty on property tax in Bengaluru city limits by 50 per cent. The bill - Bruhat Bengaluru Mahanagara Palike (BBMP) Amendment Bill 2024 - was tabled in the Assembly by Deputy Chief Minister D K Shivakumar, who holds the Bengaluru Development portfolio and was passed on Tuesday. "With the passing of this Amendment Bill, the penalty amount is halved, saving Bengalureans a whopping Rs 2,700 crore. The BBMP will be able to collect penalties worth Rs 1,000 crore," a statement issued by Shivakumar's office said. This important amendment will benefit around 13 to 15 lakh people in Bengaluru city including 5.51 lakh taxpayers, five to seven lakh people outside the property tax bracket and three lakh partial property taxpayers, it added. Former Chief Minister Basavaraj Bommai said the BJP would oppose this bill as it would lead to large-scale corruption. The Amendment Bill has a provision to give a special rebate to the poor. Governme

Property tax payment rules to be amended: Karnataka Dy CM Shivakumar

While the government will bring in reforms, it is important that people also pay taxes promptly as per the properties they own, he added

Will or gift: The better way to transfer assets to the next generation

A gift deed comes into play when finalised and a will for transfer one the death of property owner

MCD exempts house tax in residential areas across its rural jurisdiction

Delhi Mayor Shelly Oberoi on Saturday announced the exemption of house or property tax for the residential areas across the MCD's rural jurisdiction. The Municipal Corporation of Delhi (MCD) will not collect any house tax from 'lal dora' or extended 'lal dora' properties in the rural areas, Oberoi told a press conference here. "The MCD will neither send notice nor collect property tax from the residential areas whether it be under 'lal dora' or extended 'lal dora' in all its villages. This is a big relief from CM Arvind Kejriwal for the people of Delhi residing in the rural areas," she said. Oberoi added the tax levied on the commercial properties in the rural areas will, however, continue to remain the same. Around 2,168 roads in Delhi's rural areas are notified under the MCD and the commercial properties on these roads will continue to pay property tax. The decision has been taken after a panchayat of Delhi's 360 villages was held on September 3 to discuss the issue of property

9 different ways to save tax when you sell a house

If you are planning to sell your property, you'll have to pay capital gain tax on the profit earned after considering the inflation and indexed cost of acquisition

Property registrations in Mumbai fell 12% to 9,923 units in June: Anarock

Mumbai real estate sector is likely to witness a momentary slowdown in the next few months, but the long-term direction remains upward, said Anarock