No hike in property tax rates in NDMC budget for FY 2025-26
The New Delhi Municipal Council (NDMC), on Thursday, has not enhanced property tax rates in its budget for the financial year 2025-26 presented on Thursday.
The South Delhi Municipal Corporation (SDMC) has extended the benefit of 100 per cent waiver of interest and 100 per cent penalty under amnesty scheme to all type of properties in all type of colonies providing substantial relief to residential property tax assesses.
Initially this scheme is being implemented in respect of properties in villages and unauthorised colonies.
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The Chairman Standing Committee, Bhupender Gupta, stated, “Under this Amnesty scheme those property holders will become entitled for 100 per cent waiver of the amount relating to interest and penalty on making up-to-date payment of outstanding dues by 31 March, 2018.”
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He said the scheme will include the owners of all those properties, who have not submitted tax returns from 1 April 2004, or not submitted returns on regular basis or the owners whose assessment has not been done from 2004 and ahead or whose dues are pending prior to 2004 also. Further all properties where the matter is pending before MTT or other courts will also get benefit under the scheme.
Gupta stated that the property owners who make up-to-date payments of tax will become entitled for cent-per cent waiver of amount in respect of interest and penalty.
“The owners will have to make a declaration which will be accepted by the department. The scheme is meant to provide relief to maximum number of property owners and to extend the tax net of the corporation,” he said.
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