Latest news with #Rs256
Time of India
02-05-2025
- Business
- Time of India
18% drop in property tax collection in April despite higher rebate offered by Nashik Municipal Corporation
Nashik: The civic body's property tax collection in the first month of the new financial year has declined by 18% to around Rs45 crore. This is compared to Rs55 crore property tax collected during April last year. The decline occurred despite a higher rebate of 8% offered by Nashik Municipal Corporation (NMC) to those who pay their annual property tax in one stroke in the first month of FY 2025-26 . Moreover, those paying off the entire annual property tax in May and June are also to be given 6% and 3% rebates, respectively. Further, NMC has introduced an additional 2% concession for those paying property tax online during the April-June period of the current fiscal. Civic officials said that last year, they sent messages to taxpayers to avail of the tax rebates. Employees of the property tax department also visited houses of taxpayers to inform them about the rebates. This yielded positive results, as NMC collected Rs55 crore in property tax in April 2024. This year, private agencies have been deployed for the distribution of property tax bills to the taxpayers from the beginning of the ongoing fiscal. Hence, department employees did not send messages to property taxpayers , which they claim led to a drop in the collection. "However, we are making efforts to appeal to all taxpayers to pay their annual tax in May and avail of the concessions. We are also planning to maintain the 8% rebate in May. The decision will be taken in a day or two," said an NMC official. In FY 2024-25, NMC collected Rs256 crore in property tax in total, even though the property tax collection target was Rs250 crore. NMC has set the property tax collection target of Rs275 crore for the ongoing FY 2025-26.
Express Tribune
06-02-2025
- Business
- Express Tribune
Gold prices decline in local and global markets
Listen to article Gold prices have witnessed a decline in both international and local markets on Thursday. In the international bullion market, the price of gold per ounce dropped by $9, reaching a level of $2859. Locally, the price of gold also experienced a decrease. The price of one tola of gold fell by Rs900, bringing it to Rs298,700. Similarly, the price of 10 grams of gold decreased by Rs772, now standing at Rs256,087. The decline in gold prices has been observed amid fluctuating global market conditions, which have affected gold's value across various regions. Earlier, the price of gold surged significantly in Pakistan , with per tola rates increasing by Rs5,300 to hit a record Rs299,600, according to data from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). US President Donald Trump's rhetoric and escalating trade tensions between the United States and China fueled panic among investors, driving them to seek refuge in gold. As a result, gold prices reached an all-time high on Wednesday. The significant increase in gold prices was primarily attributed to fears of a potential new trade war. This escalation began when Beijing imposed tariffs on US imports in retaliation for new American duties on Chinese goods. Additionally, Trump's statement about the US 'taking over' the Gaza Strip contributed to these concerns.
Express Tribune
05-02-2025
- Business
- Express Tribune
Double whammy for consumers as gold prices hit record high
Listen to article Gold prices surged to an all-time high on Wednesday, both internationally and in Pakistan, as investors turned to the precious metal to protect their capital from devaluation. In the global market, the price of gold jumped by $53 per ounce, reaching a record $2,868. The sharp increase drove local prices higher, with 24-karat gold in Pakistan rising by Rs5,300 per tola, reaching an unprecedented Rs299,600. The price of 10 grams of gold also climbed by Rs4,158 to a new high of Rs256,859. Silver prices followed suit, with per tola silver increasing by Rs36 to Rs3,350, while the price of 10 grams rose by Rs31.50 to Rs2,872. The surge reflects a growing trend among investors seeking safe-haven assets amid economic uncertainty and currency depreciation. Analysts say heightened demand could keep gold prices elevated in the near future.
