Scheme for property tax

The Municipal Corporation of Delhi (MCD) on Thursday announced that it would embark on a new scheme to settle old property tax issues under Rateable Value Method.

The Municipal Corporation of Delhi (MCD) on Thursday announced that it would embark on a new scheme to settle old property tax issues under Rateable Value Method.

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"The scheme for settlement of ex-parte assessment under the old system of assessment would provide waiver of interest and penalty amount, subject to up-to-date payment of property tax," chairman of MCD's Standing Committee Yogender Chandolia said.

The old system had continued till March 2004 after which the Unit Area Method was introduced.

The new scheme will be limited only to settlement of ex-parte assessments under the RV system of assessment, Chandolia said. HTC