Bengaluru, June 20: Netting a big fish, the BBMP (Bruhat Bangalore Mahanagara Palike) has shut the administrative office of the Manyata Tech Park functioning at Hebbal, for failing to pay massive property tax due to the tune of Rs 273.4 crores.
Earlier on June 9, the BBMP had slapped a notice to the promoters and owners of the popular tech park to clear the due. The notice also warned the concerned on initiating legal action within three days of receiving the notice, if not meted out.
The actual tax due was Rs 83.45. The differentiation in the rate of due is the result of adding up of 24% interest rate. Put together, Manyata is legally obliged to pay Rs 273.4 crores to the BBMP.
In the morning hours of today, a team led by Join Commissioner (Health/SWM) of the BBMP, Sarfaraz Khan initiated legal action against the tech park. Briefing OneIndia on the latest, Khan said "we have seized movable properties in the office in order to recover the due."
During the ride there were not much employees in the administrative office, accept a few. "We did a Mahajar." Action against the Manyata Tech Park has been taken as per the Karnataka Municipal Corporation Act 1976. "The park failed to act on the notice sent by our office. We have now closed the administrative office of the Manyata Tech Park," Khan informed this news portal.
It has to be noted that the court has ordered to collect property tax from 17 buildings and Manyata has paid tax for its two blocks G-3 and L-3 in march 2016 - and the difference paid during the tax payments has now become Rs 273.95 crore.
The tax has been doubled under the Karnataka Municipal Corporation Act 1976 section 108A (13)(b) ) which empowers the civic agency - if the tax reassessed is more than five per cent than the tax remitted along with the returns, the evaded tax shall be payable together with a penalty not less than twice the tax so evaded payable along with interest for the difference in tax paid and payable calculated at 24 percent per annum.