Exercise aimed at preventing Hyderabad from becoming a safe haven for criminals The police in the twin commissionerates of Hyderabad and Cyberabad will launch a tenant verification drive and awareness campaigns in the city soon to ascertain the number of bachelors and families staying in the capital. The exercise is aimed at preventing the...Read more
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Taxing time for property owners
The ‘online payment only’ rule for property tax should be implemented gradually, feels K. Sukumaran After eight years, the BBMP has revised the property tax rates from the year 2016-17. While the revision in itself has brought out a few new dimensions, the process of paying the tax has created many hurdles for the ordinary...Read more
Rebate period for property tax in Bengaluru extended till June 30
Mayor BN Manjunath Reddy said he was aware of the problems tax payers were facing, especially after the introduction of the online system and most of the issues were resolved. BENGALURU: The BBMP council on Tuesday accepted a proposal by the standing committee on taxation and finance to extend 5% rebate period on property tax...Read more
Time-frame for depositing TDS on sale of property extended by Income Tax department
BENGALURU: As a relief to property buyers, the Income Tax department has extended the time period for depositing TDS on sale of property by 23 days. Anyone buying real estate worth more than Rs 50 lakh has to deduct 1% of the sale price of the property before paying the seller. That TDS has to...Read more
Relief for home owners: Hike in property tax capped at 20%
Bengaluru: The BBMP on Thursday partially rolled back the property tax hike it had effected, capping the increase at 20% for residential properties and 25% for nonresidential properties. The civic body said it took the measure following revelations that the hike had, in some instances, touched 40% for residential buildings and 50% for commercial properties....Read more
