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Government not to hike revised taxes on residential properties
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Government not to hike revised taxes on residential properties

Revision of tax on commercial properties likely

Hyderabad, September 14, 2007

The State Government has decided not to revises taxes on residential properties but will continue the ceiling fixed on hike in taxes on commercial properties.

As per Municipal Act, taxes had to be revised once in every five years and the revision is due now as the last revision took place in 2002. At that time, a ceiling of 75 percent and 100 to 150 percent were imposed on the increase in taxes on residential and commercial properties respectively.

According to the Commissioner and Director of the Municipal Administration Department Sunil Sharma said that from April this year, the ceilings were removed but the Government has recently given direction for imposition of caps again on the taxes revised in 2002. From October 1, there will be revision of taxes on commercial properties and no increase in taxes on residential properties.

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Government not to hike revised taxes on residential properties
Revision of tax on commercial properties likely

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September 14 in History

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14 September 2004
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