Property related tax is the annual amount paid by a landowner to the nearby government or the municipal corporation of his region. The property incorporates all tangible land property, his home, place of business, and the property he has rented to other people.
In India, the municipal corporation of a specific territory assesses and forces the this tax annually or semi-annually. The tax amount depends on the zone, construction, property size, building, and so forth The collected amount is mostly utilized for public administrations like repairing streets, construction schools, buildings, sanitation
Focal government properties and vacant property are by and large exempts. These tax involves taxes like lighting tax, water tax, and waste tax.
Exemption for MCD Property Tax
- Given beneath are the bodies/person who is exempted from the instalment of property tax:
- Vacant land or buildings are utilized as a spot of love, public entombment, legacy land, or utilized for charitable purposes by anybody or person.
- Agricultural land or building.
- Land or building vested incorporation.
- Property claimed by ex-servicemen or widows of an individual martyred in war. The property should just be utilized as a self-residence and no portion of it is let out.
- Properties martyred on paramilitary or police obligation.
- Property claimed by a South MCD worker who is impaired yet completely on the job.
- Any sportsperson who has won honours for any international games.
Rebate of MCD Property Tax
On the off chance that you pay your property realated taxes as a singular amount during the main quarter of the year, at that point, you will be eligible to get a markdown of 15% on the complete tax amount payable.
- A markdown of 10% of the annual value is given to DDA/CGHS pads however simply up to 100 square meters.
- A rebate of 30% is given to ladies truly tested people, and senior residents yet just for one property.
- A rebate of 30% on the property linked taxes is offered to ex-servicemen.
- A rebate of 20% to bunch lodging pads up to 30th June of the monetary year.
Conditions for availing of the rebate
- Rebate is offered for up to a limit of 200 square meters except for DDA/CGHS pads which have a constraint of up to 100 square meters.
- The inhabitance factor ought to be residential.
- Use factor ought to act naturally involved.
- If there should arise an occurrence of joint owners, the concession will be offered dependent on the property portion of the owners who qualify for a concession on property related tax.
Punishment for Delay Payment of MCD Property Tax
- If you postpone the installment of property related tax, a fine of 1% will be levied every month by the MCD on the tax amount payable.
- The cutoff time for the installment of tax is reported by Delhi Municipal Corporation (DMC).
✅ How is the MCD property tax calculated?
The property tax is calculated dependent on the recipe ‘Property Tax = Annual Value x Rate of tax’.4
✅ Would I be able to pay the MCD property tax offline?
Indeed, you can pay the MCD property linked taxes offline by visiting any of 800 ITZ money counters which are found strategically all over Delhi.
✅ It is recommended that you pay the tax either with a money order or by request draft.
When the installment is made, you will get a receipt that will contain the property tax id and could be utilized for future reference.
✅ Is municipal tax and property tax the equivalent?
No, municipal tax and property tax are two diverse taxes that you will pay. In any case, property-related taxes are a kind of municipal tax charged by the municipal corporation.
✅ I don’t recollect my property tax ID. How would it be advisable for me to respond?
It is enthusiastically recommended that you remember your property tax ID as another one won’t be given. On the off chance that you fail to remember your ID, connect with an MCD official who will assist you with the interaction. You will likewise be punished for the allotment of another property tax ID.
✅ I have a few questions identified with the installment of my property tax. How would it be a good idea for me to respond?
If there should arise an occurrence of any questions identified with the installment of your property tax, you can lodge a grumbling by visiting the authority site of MCD property tax. Under the ‘grievance’ segment click on ‘Lodge grievance reg tax receipt’. You will be coordinated to a separate page where you should enter the property id, name of the taxpayer, contact number, and the method of installment through which the tax was paid. Snap on ‘Submit’. An authority from the MCD property tax office will connect with you and will assist you with your query.
Table of Contents
- 1 Property Tax
- 2 Exemption for MCD Property Tax
- 3 Rebate of MCD Property Tax
- 4 Conditions for availing of the rebate
- 5 Punishment for Delay Payment of MCD Property Tax
- 6 FAQs
- 6.1 ✅ How is the MCD property tax calculated?
- 6.2 ✅ Would I be able to pay the MCD property tax offline?
- 6.3 ✅ It is recommended that you pay the tax either with a money order or by request draft.
- 6.4 ✅ Is municipal tax and property tax the equivalent?
- 6.5 ✅ I don’t recollect my property tax ID. How would it be advisable for me to respond?
- 6.6 ✅ I have a few questions identified with the installment of my property tax. How would it be a good idea for me to respond?