Pune: June 30 last date to avail property tax concessions

The Pune Municipal Corporation (PMC) has extended the deadline for property owners to pay their taxes at discounted rates. Previously, the deadline was May 31, but now, if property owners pay by June 30, they will receive a concession. Tax defaulters also get an extension until April 30 to clear their dues. The state government has announced a 40% tax discount for self-occupied properties, but the civic administration has yet to receive a detailed notification about it, which could delay the distribution of tax bills. Therefore, additional time has been given to pay the tax at discounted rates.

In 2022-23, the PMC collected Rs 2,000 crore from property taxes, which is the highest-ever income for the department. The focus on recovery and finding properties that are not in the tax net has helped increase revenue. Around 65,000 new properties were added to the PMC’s tax net in the previous fiscal, which yielded around Rs 400 crore. The extension of the deadline for tax payment is expected to have a significant impact on revenue, as nearly 50% to 55% owners of the 12 lakh properties under PMC pay before May 31. This percentage may go up after the extension.

A senior official of the PMC stated that the extension is crucial in encouraging taxpayers in the absence of an amnesty scheme for fiscal 2023-24. The extension of the deadline will provide more time for property owners to pay their taxes and take advantage of the discounted rates. It will also give them more time to assess their finances and ensure that they can make the payment without any financial strain.

This extension of the deadline is beneficial for both property owners and the PMC. Property owners can now pay their taxes without feeling rushed or burdened, while the PMC can continue to increase revenue by adding new properties to the tax net and encouraging more people to pay their taxes. The PMC has also taken several measures to make the payment of taxes more accessible, such as allowing payment through online portals and mobile applications.

In conclusion, the extension of the deadline for property tax payment is a welcome relief for property owners in Pune. The move is also expected to boost revenue for the PMC and enable them to fund various civic projects. The PMC should continue to focus on expanding the tax net and encouraging more people to pay their taxes on time. This will not only increase revenue but also ensure that the city's infrastructure and services are well-funded and well-maintained.

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Pune: June 30 last date to avail property tax concessions

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