GHMC OTS Offers 90% Cut In Interest On Property Tax Dues Nation
Hyderabad: The Greater Hyderabad Municipal Corporation (GHMC) has put forward a one-time settlement (OTS) scheme to recover property tax arrears amounting to over Rs 6,200 crore, encompassing interest, owed by 4.97 lakh assessments.
Click Here To Join Us On WhatsApp
The proposed scheme, which awaits approval from the state government, aims to alleviate the burden on taxpayers while facilitating the recovery of overdue taxes. “We are awaiting a reply from the state government,” a GHMC official confirmed.
Under the proposed OTS scheme, taxpayers get a 90 per cent reduction on accumulated arrears interest on property tax until the financial year 2022-23.
Click Here To Join Us On WhatsApp
To qualify for this, taxpayers must settle the principal amount of property tax arrears in addition to 10 per cent of the interest on accumulated arrears in a single payment. The OTS scheme proposed by the GHMC, exclusively applies to properties within its jurisdiction and does not extend to other urban local bodies (ULBs) across Telangana.
Further, the scheme encompasses both private and government properties. The GHMC aims to secure an ambitious Rs 2,100 crore for the financial year 2023-24. As of January 2024, the corporation has already collected Rs 1,268.49 crore.
Next Story :
-
Rajasthani Film ‘Bharkhama’ Won Special Jury Mention at JIFF 2025
![Rajasthani Film ‘Bharkhama’ Won Special Jury Mention at JIFF 2025]()
The Rajasthani film Bharkhama made waves at the Jaipur International Film Festival (JIFF) 2025, earning the distinguished Special Jury Mention Award. The movie’s special screening at GT Inox, Malviya Nagar, Jaipur, left a profound impact on both viewers and critics, marking a significant moment for regional cinema. The event was further elevated by the presence…
-
Trump Launches $500 Billion “Stargate” AI Venture
![Trump Launches $500 Billion “Stargate” AI Venture]()
In a major push to advance artificial intelligence (AI) infrastructure, United States President Donald Trump revealed a $100 billion joint venture called “Stargate” on January 21 (January 22 IST). The initiative, spearheaded by SoftBank Group, OpenAI, and Oracle Corporation, aims to revolutionize AI development in the U.S. with plans to scale the investment to $500…
-
Dalit Groom Riding Horse Faces Opposition: Police Step in for Protection
![Dalit Groom Riding Horse Faces Opposition: Police Step in for Protection]()
In Lavera village of Srinagar block, Ajmer district, a wedding procession proceeded peacefully on January 21 under heavy police protection. Around 400 police personnel were deployed to prevent potential opposition from upper-caste locals, who reportedly objected to the groom riding a horse—an act traditionally viewed as a symbol of status and equality.
-
Beti Bachao Beti Padhao Marks 10 Years of Launch
![Beti Bachao Beti Padhao Marks 10 Years of Launch]()
As India marks the tenth anniversary of the Beti Bachao Beti Padhao (BBBP) initiative, Prime Minister Narendra Modi has hailed the program’s transformative impact on addressing gender disparities and empowering the girl child. Launched on January 22, 2015, the initiative has evolved into a landmark movement for gender equality and girl-child education in India.
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page, Twitter and Instagram. For all the latest Hyderabad News updates
