Home Decor News Hubb
Advertisement
  • Home
  • Home Decor
  • Furniture
  • Contact us
No Result
View All Result
  • Home
  • Home Decor
  • Furniture
  • Contact us
No Result
View All Result
Home Decor News Hubb
No Result
View All Result
Home Home Decor

MCD passes schedule of taxes for FY 2023; no tax hike in property tax rates

admin by admin
February 19, 2023
in Home Decor


The Municipal Corporation of Delhi (MCD) passed the schedule of taxes in the civic Budget for 2023-24 on February 15, 2023, which was approved by special officer Ashwani Kumar. As per an official statement, the taxes, rates, and cesses to be charged in 2023-24 will remain the same. However, the proposed taxes on professions, trade and employment have not been approved by the MCD.

MCD had estimated an expenditure of Rs 16,023 crore with an income of Rs 15,523 crore. The civic body suggested imposition of an education cess at the rate of 1% across Delhi, earlier applicable only in south corporation, and a professional tax based on salary slab rates. No increase in property tax rates was proposed.

Further, the corporation proposed a rebate of Rs 200 for depositing property taxes online up to the limit of Rs 10,000 only. Upon depositing advance tax by 30th of June, the earlier rebate of 15% was reduced to 10%.

As per an official, the proposal to impose a professional tax and the above two changes in tax exemption were not approved. As per the norms, the schedule of taxes proposed in a civic budget is first discussed by various committees and passed by a House, which is led by a mayor. In the absence of any mayoral election, the special officer exercised the power of the corporation and approved the schedule of taxes for the ongoing financial year.

Currently, war widows, gallantry award winners in the armed forces, police, and paramilitary forces and even civilians who have received bravery awards of the highest order from the government, including Annual Bravery Awards given by the president, are eligible for tax exemptions under clause (vi) of sub-section 1 of section 115 of DMC Act, 1957.

It has been decided that if such properties are jointly owned, then the spouse of the above-mentioned persons shall also be exempted from the property tax in regards to such property in joint ownership.

See also: MCD property tax calculator, property tax rates category list, and how to pay house tax in Delhi online

Was this article useful?

  • 😃 (0)

  • 😐 (0)

  • 😔 (0)





Source link

Previous Post

Interior Color Trends for 2020

Next Post

How Long Does Polyurea Coating Last?

Next Post

How Long Does Polyurea Coating Last?

Recommended

How To Convert A Shipping Container Into A Garden Shed

May 24, 2023

Blog – What’s your Furniture Style?

February 4, 2023

Don't miss it

Home Decor

The Evolution Of DirecTV: From Satellite Dishes To Streaming

September 25, 2023
Home Decor

From Hive To Home: Embracing The Purity Of Raw Honey

September 24, 2023
Home Decor

Office Furniture Trends: Stay Modern And Functional In Your Workspace

September 23, 2023
Home Decor

Yashobhoomi Convention and Expo Centre: Facts, features

September 23, 2023
Home Decor

Transforming Commercial Buildings With Energy Management Platforms

September 22, 2023
Home Decor

Stylish Decorative Ideas For Shipping Container Homes

September 21, 2023

© Home Decor News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Home Decor
  • Furniture
  • Contact us

Newsletter Sign Up

No Result
View All Result
  • Home
  • Home Decor
  • Furniture
  • Contact us

© 2022 Home Decor News Hubb All rights reserved.

Our Spring Sale Has Started

You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/