SDMC to roll back tax hike | delhi | Hindustan Times
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SDMC to roll back tax hike

Following the north and east civic bodies, the South Delhi Municipal Corporation, too, is all set to roll back the hike on property tax for industries. The move, to be initiated at a meeting of the standing committee on Tuesday, will bring relief to all industry owners across the Capital.

delhi Updated: Jun 11, 2013 00:01 IST
HT Correspondent

Following the north and east civic bodies, the South Delhi Municipal Corporation, too, is all set to roll back the hike on property tax for industries. The move, to be initiated at a meeting of the standing committee on Tuesday, will bring relief to all industry owners across the Capital.

According to leader of the House in the South Corporation Subhash Arya, the civic body wants to lessen the burden on industries operating under its jurisdiction. “People have elected us to provide them with the best civic amenities and not to burden them with more taxes. We will roll back the rates and people will pay what they paid in the financial year 2012-13,” Arya said.

Under the hiked rates, a businessman who had paid property tax of Rs 1 lakh last year was expected to pay Rs 2 lakh this year. “Rather than increasing the rates, we will try and bring more and more people under the tax net. This will increase revenue for the corporation without putting extra burden on taxpayers,” the leader of the House said.

The rate of property tax passed in the resolution adopted by the corporation was originally 10 per cent for category G of industrial areas. In commercial properties, it was 20 per cent from the original 12 per cent. In industrial properties, the figure was doubled to 20. “Any non-residential property over 100 square yards was branded commercial. Thereby, industrial properties were also expected to cough up 20 per cent,” a corporation official said.