OTS scheme for property tax defaulters in Bengaluru: Property tax defaulters in Bengaluru are likely to get a big relief from the state government notification, which was announced by Deputy Secretary Urban Development HS Sivakumar on Wednesday , February 15.
The decision will help many people, including buildings exempted from BBMP taxes, areas that were not properly assessed in their own assessment system (SAS) taxes, who had unpaid property taxes for years Approval issued effective until July 31, 2024.
Once-off settlement (OTS) tax evaders, . who avoid it and can do it online, according to the Bruhat Bengaluru Municipal Corporation (BBMP).
Read below to check the detailed information related to the Bengaluru One Time Settlements Scheme for Property Tax Defaulters like Highlights, Objectives, Features & Benefits, Beneficiaries, OTS Scheme for Property Tax Defaulters, and much more
Bengaluru One Time Settlements Scheme for Property Tax Defaulters Highlights
| Name | OTS Scheme for Property Tax Defaulters in Bengaluru |
| Issued by | H S Shivakumar, the undersecretary of the department of urban development |
| Issued by | February 15, 2024 |
| State | Bengaluru |
| Beneficiaries | Property tax defaulters |
| Official Website | https://bbmptax.karnataka.gov.in/ |
OTS Scheme for Property Tax Defaulters in Bengaluru Objective
Bangaloreans would save Rs 2,700 crore in penalties as a result of the amended bill’s approval, which lowers the penalty amounts. Deputy Chief Minister and Bengaluru Development Minister D K Shivakumar had stated that the BBMP would be able to collect fines of Rs 1,000 crore.
Features & Benefits of OTS Scheme for Property Tax Defaulters in Bengaluru
The BBMP announced this policy on Wednesday to provide some flexibility to defaulters. Citizens who pay OTS will receive a 50% tax reduction under the scheme. The BBMP expects internet-based services to facilitate faster restoration.
By doing this, the BBMP wants to increase tax revenue. Taxpayers can pay online through the official website ie. https://bbmptax.karnataka.gov.in/ so. The fee can be paid at once, according to the BBMP The notification orders are valid until July 31 this year.
Karnataka Coop Banks Loan Interest Waiver Scheme 2024
The BBMP had introduced a mechanism that could impose a double penalty for under-assessment of property tax in addition to nine per cent bank interest, hence the need for notification Moreover, no age limit was specified for any of the schemes, so the BBMP was free to impose penalties for as long as it wished. More than 10,000 businesses were sealed by the BBMP under this scheme for non-payment of property tax, penalty and interest.
Beneficiaries of OTS Scheme for Property Tax Defaulters in Bengaluru
The OTS scheme will benefit a wide range of people, including buildings exempted from BBMP taxes, areas that have not received tax exemptions under the Self-Assessment Scheme (SAS), and those who have not paid property taxes for years
OTS Scheme for Property Tax Defaulters
- Residential properties that are exclusively ground floor and have a tiled or sheet roof (non-RCC) but do not exceed 1,000 square feet for personal use will be subject to a penalty of twenty-five percent (on tax evaded).
- There won’t be any fines for slums, government housing for the impoverished, or homes less than 300 square feet used for personal use inside residential properties classified as slums by the Karnataka Slum Development Board, or BBMP.
- The penalty for under assessed dwellings has been halved.
- The properties outside of the tax’s jurisdiction, assets free from property tax, and interest on taxes avoided were all excluded.
FaQ
Q.What is the OTS Scheme for Property Tax Defaulters in Bengaluru Objective ?
Ans.Bangaloreans would save Rs 2,700 crore in penalties as a result of the amended bill’s approval, which lowers the penalty amounts. Deputy Chief Minister and Bengaluru Development Minister D K Shivakumar had stated that the BBMP would be able to collect fines of Rs 1,000 crore.
Q.What is the Beneficiaries of OTS Scheme for Property Tax Defaulters in Bengaluru ?
Ans.The OTS scheme will benefit a wide range of people, including buildings exempted from BBMP taxes, areas that have not received tax exemptions under the Self-Assessment Scheme (SAS), and those who have not paid property taxes for years
Q.What is the Features & Benefits of OTS Scheme for Property Tax Defaulters in Bengaluru ?
Ans.The BBMP announced this policy on Wednesday to provide some flexibility to defaulters. Citizens who pay OTS will receive a 50% tax reduction under the scheme. The BBMP expects internet-based services to facilitate faster restoration.
OTS Scheme for Property Tax Defaulters in Bengaluru: How to Apply , Eligibility, Benefits @ bbmptax.karnataka.gov.in
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