Click it and Unblock the Notifications
Just In
Don't Miss
-
Hindustan Zinc's Quarterly Profits Dive 21% Amid Global Metal Price Slump, Shares Plummet; Buy Or Not? -
Ranam Aram Thavarel Full Movie Leaked Online In HD For Free Download Hours After It Hit The OTT Platform -
Ford Territory SUV Name Trademarked – Likely To Be Positioned Below The Everest SUV -
Roman Reigns transitioning to Hollywood after WWE WrestleMania 40 loss -
OnePlus Ace 3 Pro Leak Hints at New Design; Expected Launch, Specifications We Know So Far -
Summer Fashion: Your Bollywood Style White Outfits Guide To Keep It Cool And Chic -
Journey From Delhi To Ooty: Top Transport Options And Attractions -
IIIT-Bangalore Introduces PG Diploma In Digital Product Design And Management
BMC to take legal action against tax defaulters
Mumbai, Mar 22: The Brihanmumbai Municipal Corporation (BMC) has said that property owners who fail to pay tax by March 31 will face legal action in the form of fine or auctioning off the property.
Issuing an advisory to the effect, the BMC said if an owner of property fails to pay property tax by the deadline of March 31 he must be ready to face legal action that could be in the form of fine or even seizure and auctioning of the said property.
For BMC, revenue from property tax is the second largest source of income after octroi. The civic body is expected to achieve its target of Rs 2,800 crore in taxes till March 31.
The BMC is currently lagging behind by Rs. 600 crore from its targeted tax receipts of Rs. 2800 crore, BMC officials said.
The civic body is in the process of changing the system of calculating property tax from rateable value to capital value to bring about parity in computing tax in the island city and its suburbs. The new calculation will become effective with retrospective effect from April 1, 2010.
PTI
