Coimbatore tax collection improvement

Q: Is it true that there will be a new improvised system of tax collection in Coimbatore pretty soon?

Satyanathan Kumar, Coimbatore

26th November 2014

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Replies (4)

Ill explain that. Every year the Corporation receives applications for name transfers due to sale of properties, transactions, execution of wills and transfer of properties to legal heirs. which involve property name change. For every such name change, the Coimbatore Corporation will collect Rs. 200 or 0.1% of the property value – whichever is higher.

Kirthana Sundar, Coimbatore

28th November 2014

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The civic body is showing high percentage of tax collection. It is only proved by the increase in tax collection from Rs. 104.00 crore to Rs. 115 crore during 2011-12. Ive heard that they are thinking of introducing a new tax called the name transfer fee, although im not quite sure about what it entails.

Lakshmi Srinivasan, Coimbatore

28th November 2014

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Well the deficit is much less than last year at least, when it was around 27 crores. The civic body had already once previously revised and fixed the market value as rent for shops, which were due for revision. This led to an increase in revenue from Rs. 4.50 crore to Rs. 14 crore.

Sandeep Krishna, Coimbatore

27th November 2014

Comment

Yes you've heard that right. Since the finance budget has a deficit of almost 21cr rupees, the corporation will be improving the tax collection system, also revising rent prices to make up for this huge deficit gap.

Naduveetil Rajgopal, Coimbatore

26th November 2014

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