Telangana government approves waiver of 90 per cent arrears on property tax under 'One Time Scheme'
A mechanism will be set in place to ensure daily monitoring and to ensure that the OTS is done in a completely transparent manner.
Published: 18th July 2022 11:06 AM | Last Updated: 18th July 2022 11:06 AM | A+A A-
The Greater Hyderabad Municipal Corporation office building (File Photo| EPS)
HYDERABAD: With property owners due a mammoth Rs 1,999.24 crore in pending property tax arrears in all Urban Local Bodies, including the Greater Hyderabad Municipal Corporation (GHMC), and the interest on these arrears reaching Rs 1,626.83 crore at the end of the Financial Year 2021-22, the State government has cleared a One Time Scheme that is being seen as a win-win situation for all.
The scheme offers a waiver of 90 per cent of the accumulated interest on the property tax arrears, provided the taxpayers clear the principal amount by the year 2021-22 along with 10 per cent of the interest on accumulated arrears in one go in respect of tax on properties under OTS in all ULBs, including the GHMC.
In respect of the taxpayers, who paid their entire property tax dues including interest/penalties up to March 2022 during the current financial year prior to coming into force of this scheme, 90 per cent of such interest/ penalties would be adjusted against future payments.
The Commissioner, GHMC and the Director of Municipal Administration, Hyderabad would take all necessary measures, repeatedly during this period to give wide publicity and create awareness of this scheme. This awareness drive would include reaching out to each of these addresses, sending them messages, making phone calls and taking up advertisements in print and electronic media.
A mechanism will be set in place to ensure daily monitoring and to ensure that the OTS is done in a completely transparent manner. OTS will be taken up in a campaign mode and the scheme will close on October 10, according to the orders. After carefully examining the proposal, the government approved the scheme, sources said.
Conditions apply
Those paying the entire property tax and 10% of the arrears are eligible for the offer
In respect of the taxpayers who have paid their entire property tax dues, 90% of the interest/penalties would be adjusted against future payments.
