Asianet NewsableAsianet Newsable

Bengaluru’s BBMP announces good news for Taxpayers: 50% off on property tax arrears!

BBMP in Bengaluru offers a 50% discount on property tax arrears for those who have paid half and appealed. A drive targets businesses with overdue taxes, sparking protests. Approximately 30% of property owners evade taxes. BBMP advises paying 50% and appealing for potential government refunds. They're also preparing a report on improving Bengaluru's brand image.

Bengaluru's BBMP announces good news for Taxpayers: 50% off on property tax arrears! vkp
First Published Feb 6, 2024, 3:14 PM IST

To ease the burden on Taxpayers, the Bruhat Bengaluru Mahanagara Palike (BBMP) has announced a significant concession on property tax arrears. Under this new scheme, building owners with outstanding property tax can avail themselves of a 50% discount. The decision comes as part of BBMP's efforts to meet revenue targets by the end of the financial year.

Tushar Girinath, the Chief Commissioner of BBMP, clarified that the tax concession would only apply to those who have paid at least half of their outstanding ERO tax and have submitted an appeal. Property owners must pay half of the due tax and file an appeal with the corporation to qualify for the rebate.

Real estate developers, BBMP officials accused of involvement in encroaching Yelenahalli Lake in Bengaluru

DCM DK Shivakumar had earlier hinted at such a tax concession, indicating the corporation's willingness to explore new avenues to boost revenue. Alongside discussions on concessions, BBMP has also initiated alternative methods for tax collection to meet its targets.

One such initiative includes a special drive in the Peenya Industrial Area targeting businesses with outstanding tax bills. Several companies that have neglected their corporation tax obligations dating back to 2016-17 were issued notices during this drive. However, protests erupted when BBMP officials abruptly sealed some of these establishments. DCM DK Shivakumar intervened, instructing officials not to seal the premises and promising to address the issue.

BBMP's focus on tax collection has also highlighted instances of property tax evasion, with approximately 30% of property owners failing to pay taxes on time. The corporation has issued stern notices to those withholding substantial tax amounts, highlighting the importance of obedience.

Karnataka Budget 2024: BBMP seek Rs 500 crore to build state-of-the-art medical college in Bengaluru

Regarding the pending tax rebate from the government, BBMP advises property owners to pay 50% of their outstanding tax to the corporation and then appeal for a potential refund if the government relaxes tax regulations. Chief Commissioner Tushar Girinath assured that any funds paid would be refunded if tax relaxations are implemented.

In addition to tax-related matters, BBMP is gearing up to submit a report on Brand Bengaluru to DyCM DK Shivakumar. This report, compiled with input from various sectors, will influence budget allocations based on suggested improvements for enhancing Bengaluru’s brand image.

Follow Us:
Download App:
  • android
  • ios