Pay tax or face property attachment, auction: MCD

Last Updated: Sunday, March 27, 2011 - 20:14

New Delhi: Desperate to increase collection
of house tax, the main source of its revenue, the MCD has
warned defaulters that they may face prosecution and property
attachment if they do not clear dues by this month-end.

Issuing a public notice, the civic agency has pointed out
to the citizens that the last date for paying property tax of
earlier years and the current year is March 31 and clearance
of dues by that date will ensure 100 per cent waiver of
interest and penalty on pending tax.

The Municipal Corporation has been running two schemes
for settlement of ex-parte assessments under old system of
assessment (rateable value) as well as the new system (unit
area method) -- both of which will expire in March-end.

The notice said in case of failure to clear property tax
arrears and current dues by March 31, citizens will face
interest at 1 per cent per month of tax unpaid for delayed
payment, penalty of 30 per cent of tax unpaid, rigorous
imprisonment and fine of not less than 50 per cent amount of
the tax evaded and attachment of movable and immovable
properties and their auction.

The cash-strapped civic body is keen to collect more
property tax, which is its main source of revenue. The
collection has been below the initial target this financial
year, prompting the civic body to revise the target.

The old RV system continued till March 31, 2004 after
which the unit area method was introduced from April 1, 2004.

There are about one lakh cases pending under the old system.

In the RV system, the capital value of the property was
used to be taken into account while in the unit area method,
value is assigned to colonies rather than individual
properties.

PTI



First Published: Sunday, March 27, 2011 - 20:14

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