Property tax calculator delhi

A complete guide about Property Tax in India Property tax is an advance that Municipal Corporation or local governing bodies levies on all tangible realty assets of their respective area. In India, every property owner is liable to pay property tax to help the Government upkeep maintenance of public services. Property tax online payment makes it easier for taxpayers to clear their annual dues on time. Let’s know more about this tax in detail! What is Property Tax? Government bodies like Municipal Corporations or Panchayat levy a sum on all tangible property of their governing areas. The owners of the properties are mandated to pay the sum annually or semi-annually. This property tax applies to any property that a person possesses, such as Also known as house tax, it is a primary income source for the Government that is further used to repair, maintain and develop the local infrastructures like parks, roads, pavements, etc. For more convenience, several taxing entities have introduced aproperty tax online paymentfacility. Know the various property tax types relevant in India. Categorically, property tax is an example of direct tax. However, to simplify the assessment and calculation ofproperty tax onlineand offline, it is divided into four parts, based on different types of • Land -It is in its initial form devoid of any construction or alteration. • Personal property -It can be any movable asset like cars, two-wheelers, cranes, buses, etc. • Development made to land -Anyth...

Other Cities • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • What is Property Tax? Property tax is levied by the government through local municipal authorities on the real estate owners. The tax collected is utilized to maintain civic amenities such as roads, sewage, parks and other local infrastructural facilities. The property tax rate varies with respect to the area and is imposed on both residential and commercial real estate. The civic bodies use different property tax calculators online or offline to assess the amount to be levied but a standard formula is used throughout the country to decipher the amount of property tax. How is Property Tax Calculated? Property Tax is calculated by the municipal authorities after factoring in and assessing a diverse set of factors such as: • The method employed by the state or municipality to determine the property tax. • Details concerning to the locality like type and age of the property, status of occupancy and total surface area of the property The property owners can also check the amount which would be levied on them through various prop...

Property tax is the greatest source of revenue of the Municipal Corporation of Delhi (MCD) and other local urban governments throughout the world. In collecting property tax, Delhi's performance is worse than that of many other cities in India because of poor governance. According to a number of studies, nearly 30 per cent of the properties in Delhi are not listed in the municipal register. In other words, out of 25.3 lakh properties, only 9.6 lakh are registered, Although homebuyers are often hesitant to pay property tax, paying property tax on time is important to avoid legal hassles and avail tax benefits. Also Read: If you are a homeowner in Delhi, here are the essentials you need to know about paying property tax: How does the MCD calculate property tax? To calculate property tax, the MCD adopts the Unit Area System recommended by the government. In the Unit Area System, the tax you pay on your real estate assets is a function of the built up area, the period of construction, the structure of the building, the location of the property in Delhi and the type of property. The property tax rate on commercial, residential, industrial, institutional property vary. If your home is an A or B category residential property, you will pay a property tax of 12 per cent. If your home is a category C, D or E residential property, you will have to pay 11 per cent as taxes. If it is F, G or H category, you will have to pay a tax of 7 per cent. The formula MCD uses to calculate propert...