Hyderabad: 90% interest waiver on property tax under 'one time scheme'

Hyderabad: The Municipal Administration and Urban Development Department (MA&UD) issued an order for waiving 90 per cent accumulated arrears interest on property tax, provided the taxpayer clears the principle amount of tax dues till the year 2021-22, together with 10 per cent of interest on accumulated arrears at one go under the 'one time scheme (OTS)'. It will be taken up in campaign mode and will be closed on October 31, 2022.

According to the government order (GO) 485, the commissioner of the Greater Hyderabad Municipal Corporation and the Director of Municipal Administration have reported that as per records, there are dues of Rs 1999.24 crore towards pending arrears of property tax in all urban local bodies (ULBs), including the GHMC limits. The arrears interest amount is Rs 1626.83 crore at the end of financial year 2021-22.

The GHMC commissioner and MA director proposed OTS for a waiver of 90 per cent accumulated arrears interest on property tax in all ULBs and GHMC limits.

The GO states that taxpayers who paid their entire property tax dues, including interest along with penalties up to March 2022 during the current financial year before coming into force of this scheme, 90 per cent of such interest and penalties will be adjusted against the future payments.

As per the GO, the GHMC commissioner and MA director will take all necessary measures, reported during this period to take up awareness of OTS. A mechanism will be set up to ensure daily monitoring and OTS is done in a completely transparent manner.