Telangana waives 50% property tax to ease monetary struggles

Picture Supply : FILE

Telangana waives 50% property tax to ease monetary struggles

The Telangana authorities on Saturday introduced a 50 per cent home property tax waiver in Hyderabad metropolis and 140 extra locations throughout the state as Diwali present, amid monetary difficulties being confronted by folks in instances such because the coronavirus pandemic.

“As a Diwali present, we now have determined to present some reduction to folks on property tax,” stated Okay. Taraka Rama Rao, Municipal Administration Minister.

As a part of the tax waiver plan, all of the home households who must pay property tax as much as Rs 15,000 in Higher Hyderabad Municipal Company (GHMC) limits will profit a 50 per cent discount.

As many as 13.7 lakh households will profit in Hyderabad, burdening the state authorities by Rs 196.four crore.

“In different cities, as much as 140 cities, we’re extending a reduction of 50 per cent on property tax as much as Rs 10,000,” stated Rao, benefiting 17.6 lakh households and depriving the state authorities of Rs 130 crore.

Throughout the state, 31.four lakh households will stand to learn with this Diwali property tax bonanza, amounting to Rs 326.four crore.

“We hope that folks can be comfortable on this Diwali day,” stated Rao.

He additionally clarified that within the occasion of any taxpayer already paying 100 per cent property tax, the rebate can be adjusted within the subsequent 12 months.

The Municipal Minister stated within the cupboard assembly on Friday night, a number of points have been mentioned and many selections have been taken.

Chief Minister Okay. Chandrasekhar Rao and different Ministers mentioned that the monetary place of individuals in addition to governments has turned topsy-turvy due to the pandemic, resulting in everyone struggling.

“It was mentioned that some extra assist must be prolonged to folks. As a result of everyone’s place will not be good this 12 months. The CM requested us what extra may very well be completed to present extra reduction,” he stated in regards to the developments resulting in the tax waiver.

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