CHANDIGARH After receiving a hefty Rs 42 crores in the fiscal year 2017-2018, the tax branch of Municipal Corporation, Chandigarh has announced a tax rebate for both, residential and commercial taxpayers for the current financial year with effect from April 1. The rebate period has been fixated at two months starting from April 1 till May 30. The tax payers of the residential properties of the city will get 20% rebate on the total amount of tax of their respective property, if they deposit the tax amount within the above-said stipulated period, while the commercial tax payers of the city will get 10% rebate on the total tax amount.
After the stipulated period, the taxpayers of both of the categories will lose the rebate opportunity.
Moreover, besides the full tax amount, they will have to pay 25% penalty and 12% interest on the entire amount to the authority.
With this move, the tax branch wants to collect optimum tax amount in the initial phase of the financial year, so that cash-strapped MC could avoid sending notices to the assesses.
Since the number of the both residential and commercial tax payers have seen a significant rise over the last financial year, the authorities are hoping of a further escalation in numbers as the private company is nearing the completion of survey, where the number of the new taxpayers are also expected to rise.
"Earlier, in financial year 2016-2017, the residential taxpayers were estimated to be around 24,000 and the number increased in the last financial 2017-2018 and touched over 41,000. While, the number of commercial taxpayers has also increased from around 13,000 to 15,000 over the years. Since the survey in on the verge of completion, we are hoping that more taxpayers, would come forward", said an official.