5% Tax Rebate for Commercial & Residential Property in Hyderabad

Telangana to Extend 5% Tax Rebate for Commercial & Residential Property

The government of Telangana has announced orders providing a 5% rebate on property tax payments for taxpayers in both residential and non-residential categories. Furthermore, owing to the ongoing lockdown, the time to avail early bird discount has also been extended to May 31.

What is the Early Bird Scheme?

GHMC provides an early bird discount for all of the property tax payments in April. Taxpayers can get a 5 percent discount on their taxes according to this proposal. Therefore, if you make full payment of property tax for the year 2020-21, you need to pay just 95 percent of your tax liability.

Property Tax Rebate to All Properties

In a relief to owners of residential, non-residential properties around Telangana, the government of the state has enhanced the Early Bird Scheme (EBS) to all property categories without an upper limit on tax. You now have the right to take advantage of this financial year's 5% rebate under the scheme. Now property owners have time to pay their taxes up to May 31.

Until now, the five-percent rebate applied only to property tax assessments with a cap of Rs 30,000 per annum in all the ULBs ( Urban Local Bodies) of Telangana, including the GHMC. Now that the limit is removed, the scheme will also help owners whose annual property tax demand exceeds Rs 30,000. MAUD minister KT Rama Rao agreed to relax the upper limit in light of the ongoing economic crisis in a video conference with municipal commissioners and additional collectors on Saturday.

Minister KTR directed the municipal commissioners concerned to make efforts to increase the property tax collections and encourage property owners to avail of the discount. The Director of Municipal Administration and the Commissioner shall take appropriate action, including the granting of this facility to all taxpayers who have already paid their property tax dues for the year 2020-21, if they are found eligible under these revised orders.

The proposed extended early bird scheme to all properties is expected to encourage citizens to clear their property tax dues in advance. 

 

By: Shailaja K