Punjab extends deadline for property tax by 3 months

Chandigarh

Affecting 27 lakh residential, commercial and industrial properties in 167 urban local bodies across the state, Punjab’s Local Government Department on Thursday extended the deadline for payment of outstanding house/property tax without penalty by another three months.

The interim relief given would come into force from the date of notification expected in a few days, say sources.
Data available with the department reveals that against a target of Rs 256 crore (2016-217), only Rs 214 crore has been collected. In 2017-2018, the department earned Rs 238 crore against a target of Rs 302 crore. It is yet to compile data on the amount pending on account of the tax. Announcing the relief, Local Bodies Minister Brahm Mohindra said he had sought a report on the arrears. He said those who had failed to deposit the house tax or property tax levied under the Punjab Municipal Act, 1976, within the time specified could now deposit the principal amount in lump sum on a rebate of 10 per cent of the amount deposited within three months of the date of issue of the order as a one-time settlement and penalty at 10 per cent on the said amount within three months.

Those who still failed to deposit the dues within the given time period would be liable to a penalty at 20 per cent on the amount along with an 18 per cent interest from the due date till the date of realisation.

Comments

comments