5% exemption for full cost of property tax: BBMP extends deadline until Might 31 Bangalore

Property homeowners in Bengaluru can now avail 5% rebate for 2022-23 towards full cost by Might 31, 2022. The BBMP issued a notification stating this, extending the comfort interval by one other 31 days.

BBMP Instruction for Taxpayers:

1. If the wealth tax return for the earlier 12 months has not been filed, the wealth tax return for the present 12 months shall be together with the return for the earlier years and the quantity due, if any.

2. Further depreciation can’t be claimed for the years 2017-18 and 2018-19 and 2019-2020 as depreciation might be claimed as soon as in a block interval i.e. 2016-17 to 2019-20

3. If a revised return is filed for any 12 months, the return filed for the present 12 months shall be on the premise of the revised return.

4. If any tax was paid prematurely and after adjustment of tax of earlier years, if there may be nonetheless steadiness, it will likely be paid again after due verification by way of test or DD.

5. If the wealth tax for the present 12 months is paid in two instalments, the identical type is used for the second instalment.

6. A 5% rebate on the full wealth tax to be paid might be availed, in case you are paying the whole quantity in a single installment.

7. If you’re making cost for earlier years (paid dues), the cost shall be carried out after producing challan for every earlier 12 months.

8. Proper now you’ll be able to pay your property tax you probably have paid property tax not less than as soon as utilizing your SAS Aadhaar utility quantity or PID quantity. If you’re paying property tax for the primary time please await some time.

9. If you’re a defaulter, the system robotically calculates the curiosity for the default interval on the fee of two% per thirty days.

10. If you’re paying by way of DD or Money, receipt might be generated immediately. However for cost by way of cheque, receipt might be generated solely after realization of the test quantity.

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