Penalty waiver for holding tax defaulters to benefit | patna | Hindustan Times
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Penalty waiver for holding tax defaulters to benefit 12 lakh people in Bihar

patna Updated: Jan 27, 2017 16:14 IST
Subhash Pathak
Penalty waiver

The Bihar cabinet has approved a proposal to waive off interest and penalty on holding tax, if deposited between February 1 and March 31.(Santosh/HT photo)

About 12 lakh people in Bihar are likely to be benefitted by a state government decision approving one-time settlement scheme for property owners who have defaulted on paying tax on their holdings--both commercial and residential--without any penalty or interest.

Officers in urban development department (UDD) said urban areas in Bihar had 19.74 lakh holdings as per the 2011 census. Owners of 60% holdings were defaulters, they said.

The state cabinet meeting, chaired by chief minister Nitish Kumar, had on January 25 approved the UDD proposal to waive off interest and penalty on holding tax if deposited between February 1 and March 31.

Briefing reporters about the cabinet decision, principal secretary of cabinet secretariat department, Brijesh Mehrotra, said the scheme would be valid also for such houses or commercial buildings, which had not been assessed as yet for holding tax. Prevalent taxation norms envisage that property owners need to pay Rs 2,000 and Rs 5,000 as fine for each residential and commercial holding, respectively, along with interest on arrears of the tax amount.

In another decision, the cabinet gave administrative sanction to Rs 633 crore for construction of the state sporting academy and a cricket stadium of international standards at Rajgir. A Delhi-based construction firm, M/s Arcop Associates, had been appointed as consultant for the project, which would be executed on 90-acre land, Mehrotra said

Construction of the sporting complex, also equipped with fitness centre, motivational camp, research wing and hostel, as well as the stadium are expected to be completed by 2019-20.