Outstanding house or property tax date extended by 3 months: Brahma Mohindra

Property Tax, Punjab

The Hush Post| 6:15 pm|one-minute-read|

The Punjab government has extended the deadline for a period of three months to pay the outstanding house tax or property tax without any penalty. This was disclosed by Brahm Mohindra, Local Bodies Minister in a press statement here on Thursday.

The Local Bodies Minister said that the Punjab government has decided to partly exempt a class of property owners from the payment of certain charges levied under the Punjab Municipal Act, 1976.

He said that now the property holders may pay the outstanding house tax or property tax within three months with certain conditions.

Mohindra said that those who had failed to deposit the house tax or the property tax as the case may be, levied under the Act within the time specified may now deposit the principal amount in lump-sum with the rebate at the rate of ten percent of the amount being deposited within a period of three months from the date of issue of the order as a onetime settlement; and penalty at the rate of ten percent on the said amount within the period of next three months.

The minister further said that the persons who still fail to deposit the due amount as above, within the period and the manner specified above, shall be liable to pay a penalty at the rate of twenty per cent on the amount due along with interest at the rate of 18 per cent from the date it became due till the date of its realisation.

The Minister said that this decision of the government on the one hand will give a big relief to such property holders/owners who missed the timeline to pay the house tax or property tax and whose property has been sealed by certain Urban Local Bodies as penalty likewise it will also increase the revenue collection of the ULBs on the other hand. He said that ULBs will now have more funds at their disposal to execute development works.

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