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Archive for the ‘Property Taxes’ Category

Building Tax

Saturday, March 14th, 2009

Any one who possess a building either for residential or business purpose should pay building
tax to the local body like Panchayat, Municipality or Corporation in which the building is
constructed.

Normally the taxes has to be paid before the month of March every year. Failing which fine of 24% is charged. Buildings are taxed on the basics of area in square feet (sq.ft.). Building having 3000sq.ft. onwards will have to pay luxury tax yearly and the normal building tax in the local body. Buildings below 3000sq.ft. in area have to pay one time tax in the village office and the normal tax in the local body every year.

The taxes may vary for thatched/concrete/half timbered etc. may vary.

The taxes may vary for residential and commercial purpose may vary.

Tax for floor with Red Oxide, Tiles, Marble etc may vary.

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Land Tax

Saturday, March 14th, 2009

Any person posses land will have to pay tax to the government. The land taxes are paid to village offices of their area.

The land taxes are paid on the basis of area occupied. This tax is paid in the village office in the name of deed holder of the property.

The tax receipt is necessary for all transaction related to the property. A buyer should confirm the actual seller’s name recorded in the document. Any transactions conducted without the tax receipt can be void.

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