Q: Hi..if a building is detected to be out of tax net of the civic body..then what would be the property tax fine. Has GHMC collected target amount..??
Hi Aveek.. if tax for your building is assessed as Rs 1 lakh per annum then the you will have to pay Rs 2.5 lakh (or 250 percent) along with Rs 1 lakh tax assessment for the current year.
Hi Syed...Greater Hyderabad Municipal Corporation (GHMC) has directed that if a building is detected to be out of tax net of the civic body, the owner evading property tax will have to pay property tax for two and a half years with retrospective effect