Latest news with #Self-AssessmentScheme
Time of India
2 days ago
- Business
- Time of India
BCC Issues final notice to Vega Funmobile over Rs 7.3 crore property tax dues
Belagavi: The Belagavi City Corporation (BCC) issued a final notice to Vega Funmobile Private Limited, demanding the payment of Rs 7,33,66,476 in overdue property tax, pending from 2004–05 to 2025–26. Tired of too many ads? go ad free now The notice follows allegations of tax evasion and serious violations of building construction norms by the company. According to the breakdown provided in the notice, the total due includes: Property tax Rs 1,99,49,156, cesses Rs 50,76,836, penalty Rs 4,82,33,084, and solid waste management tax of Rs 1,07,400. The notice, issued under the Karnataka Municipal Corporations (KMC) Act, 1976, mandates the company to pay the dues within seven days of receipt. Failure to do so will lead to strict recovery action, including distraint and sale of movable assets, and attachment of immovable properties. Speaking to the TOI, BCC commissioner Shubha B said: "This is the final warning issued to the company. If the dues are not cleared, legal proceedings will be initiated." She clarified that the outstanding amount was calculated after adjusting previously paid amounts. Significantly, the 24,000 sq ft commercial structure operated by Vega Funmobile is entirely unauthorised, built without a valid building permit. Despite this, the company was paying property tax under the commercial category through the Self-Assessment Scheme (SAS) since 2004, without proper verification. BCC sources revealed that a detailed inquiry led to the penalty after detecting mismatches between the declared and actual built-up area. The company is said to have admitted to the violations during the proceedings. As a result, action was taken under Section 112(C) of the KMC Act, 1976. Tired of too many ads? go ad free now Commissioner Shubha conducted a comprehensive investigation, including spot inspections, review of electricity records, construction timelines, and satellite imagery analysis. Following this, she conducted three hearings on Jan 31, April 15, and April 21, 2025. The office issued a final order on April 25, and the final notice was served on Tuesday.
Indian Express
05-06-2025
- Business
- Indian Express
BBMP readies 3 lakh notices for owners under-assessing properties
In a crackdown on building owners under-assessing their properties and paying less tax to the Bruhat Bengaluru Mahanagara Palike (BBMP), the civic body has decided to soon serve notices to around 2.5-3 lakh properties. The notices will come along with fines for concealing the true extent of the built-up area. According to Munish Moudgil, Special Commissioner (Revenue), the BBMP used drones to verify the extent of property declared by the owner under the self-assessment scheme and found that many had under-declared. 'Based on this, we will issue notices to property owners and ask them to pay the tax dues,' he said. According to sources, flaws were detected in almost a sixth of the 20 lakh properties self-assessed by their owners. For instance, under the Self-Assessment Scheme (SAS), a building with five floors had declared it as having only three floors. This was flagged during the drone survey carried out by BBMP in the city limits. In the notices, the BBMP will direct the property owners to pay tax for the total extent of the building, apart from levying penalties for the same. The civic agency could also go for a one-time settlement (OTS) scheme to clear the dues of these property owners, as it did with the property tax defaulters last year, sources added. The SAS, introduced in 2008, has been marred by several issues. In 2022, erstwhile BBMP – now Greater Bengaluru Authority (GBA) – was flooded with complaints after thousands of property owners were served notices on account of wrong zonal classifications in the SAS portal. Last year, BBMP introduced the OTS scheme for property tax defaulters. Around 3.81 lakh property owners were found to have defaulted on their taxes and were provided a chance to pay by waiving compound interest on arrears and reducing penalties by 50 per cent. The crackdown on under-assessment of properties is expected to generate additional revenue for BBMP, which has a revenue target of around Rs 5,700 crore for the 2025-26 fiscal.
