How the Property Tax Hike Spells woes for IT Firms..!

by Mr. N. Hariharan, Chushman and Wakefield If  Municipal Corporation of Chennai's (MCC) recent resolution to hike property tax for specialty buildings (buildings housing ITBPM companies) between 50 % to 200 % is approved by the state Government, it will add anything bet…

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Indian Real Estate Developers Likely to Move FM against Proposed Sales Tax for Properties..!

Central Govt proposes tax on developers on basis of assessed property valuation during transfer by inserting a new section Indian Real estate developers / promoters are planning to move the finance ministry (FM) against a proposed tax on property sales, which they feel will …

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Coimbatore Corporation Action: Post to Remind Water Tax and Property Tax Payments..!

For those who have to pay property tax arrears to the Coimbatore Corporation, the local body sent the reminder through the India Post’s ePost service this year (2013). Nearly 5,000 mails were sent by the Corporation through the ePost recently. An official of the Department o…

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Coimbatore Corporation : Now, Calculate Property Tax Online..!

Following the recent introduction of 2 new features in its website, the Coimbatore Corporation has now added one more - property tax calculation. According to Commissioner in-charge Mr. S. Sivarasu, the new feature relates to property tax and lets the assessee know how the c…

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Vadodara Municipal Corporation: Hikes Property Tax..!

The standing committee of the Vadodara Municipal Corporation (VMC) recently approved the civic budget for 2013-14 that brings down the proposed hike in general tax and water charges but makes no change in gas rates proposed by municipal commissioner in his budget proposals …

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Chennai Corporation : Property Tax Hike 50 to 200 % for IT Buildings..!

The Chennai Corporation Council on recently passed a resolution to increase the property tax for buildings housing IT (Information Technology) firms. Tax Increase 50 to 200%.. The increase in the tax rates range from 50 to 200%. The Corporation of Chennai has identified about …

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Coimbatore Corporation : Launches Drive Against Property Tax Defaulters..!

The Coimbatore City municipal corporation had started taking stringent action against property tax defaulters in its attempt to ensure maximum property tax collection from residents. The civic body has set a target of achieving 91% tax collection rate from its 100 wards. It …

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Chennai Corporation: Widen Net on Property Tax

The Chennai Corporation will conduct a study and survey on buildings including courts, police stations and police quarters yet to be covered under the property tax as part of the effort to improve tax collection.  The revenue department of Chennai Corporation has intensifie…

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Collection of Property Tax: TMB Signed MOU with Chennai Corporation

The Premier old Private Sector Scheduled Commercial Bank, Tamilnad Mercantile Bank (TMB)had entered into a Memorandum of Understanding (MoU) with Chennai Corporation for collection of Property Tax – walk in payment system on recently at Chennai. MOU exchanged  between Wors…

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Pune Municipal Corporation: Cut property tax for women

A proposal to grant 5% concession in general tax of the property tax to women who have properties registered in their names will be implemented from the next financial year in Pune Municipal Corporation ( P.M.C) Mr. Vilas Kanade, Tax Department Chief  of P.M.C said, "Th…

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