Latest news with #OneTimeSettlementScheme
Hindustan Times
2 days ago
- Business
- Hindustan Times
OTS for property tax defaulters extended till August 31
The Punjab government has extended the One Time Settlement Scheme (OTS) for clearing outstanding property taxes until August 31, 2025. The extension allows property owners to settle their dues with limited penalties and interest. OTS for property tax defaulters extended till August 31 Cabinet minister Dr Ravjot Singh announced the extension of the OTS scheme, which was originally set to expire on August 15. The new deadline of August 31 offers property owners more time to clear any pending or partially paid property taxes without incurring interest penalties, he said. 'The OTS scheme is applicable on total pending tax or partially paid. It enables property owners to pay their outstanding taxes with a waiver on interest and penalty. Property owners who settle their dues by August 31 will benefit from this exemption. After the deadline, a 50% penalty will be imposed on any outstanding amount,' the minister said.
New Indian Express
02-07-2025
- Business
- New Indian Express
5 lakh property owners to get BBMP notices for ‘tax evasion'
BENGALURU: As many property owners in Bruhat Bengaluru Mahanagara Palike (BBMP) have misused the Palike's Self Assessment Scheme (SAS) and deliberately under-valued their additional floors to avoid paying actual taxes, the BBMP has decided to issue notice to owners of such properties. The Palike, through its verification systems, including drone surveys, visit by officials, and other means, has detected such violations in around 5 lakh properties. BBMP Special Commissioner (Revenue) Munish Moudgil confirmed that BBMP has decided to issue notices asking the owners to pay the actual amount. As per senior officials, the notices to property owners for 'under assessing' their properties is an initiative to crack down on such practices and also a warning to owners not to repeat the same. 'The owner's house address, GPS, photo, their registration details, commencement and occupancy certificate was verified by the revenue department which also used drone survey and it was found that around 5 lakh of them have concealed the actual data, declared only partial details and have been paying less taxes,' said a senior accountant with the BBMP revenue department. The Revenue Officials are yet to divulge details of what action will be taken on such owners and maintained that action will be initiated based on the recommendations of Chief Commissioner and Revenue Commissioner. 'If owners fail to comply with notices, there are chances of a heavy penalty against such owners. The BBMP will start the initiative in full swing by the end of July and August as over 150 revenue staff members are engaged in caste survey on the Schedule Caste population which will end by Mid-July,' said an official. Of these 5 lakh properties, the BBMP has already tabulated 26,000 properties, and it expected to mop up Rs 100 crore from the owners. This apart, the BBMP revenue department will also tighten screws against 3.16 lakh defaulters from whom Rs 714.56 crore is due. 'The BBMP has given enough chances. Last year, the One Time Settlement Scheme with reduced interest on such dues was rolled out and it was extended multiple times, yet many have not utilised it. BBMP will initiate action such as sealing down such properties and also attaching them,' said a senior official.
