North body rolls back hiked property tax

The standing committee of the North Delhi Municipal Corporation, in a bid to provide relief to property tax payers under its jurisdiction, has decided to reduce its tax rates for industries on Wednesday.

The standing committee of the North Delhi Municipal Corporation, in a bid to provide relief to property tax payers under its jurisdiction, has decided to reduce its tax rates for industries on Wednesday.

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The move comes after the commissioners of the three civic bodies nearly doubled property tax rates of all non-residential properties.

According to standing committee chairman Ram Kishan Singhal, the industries won’t be able to survive if the hiked property tax was implemented.

“Property tax rates have been hiked but nowhere was the industry mentioned. Already over R1 crore has come in through this hiked tax. We will rectify it and give it back to the industrial property holders,” Singhal said.

Under the hiked rates, businessman who had paid property tax of R1 lakh last year were expected to pay Rs 2 lakh this year. “They would not have paid. We will not increase the rates and will instead try and bring more people under the tax net,” Singhal said.