Tax Relief

Bengaluru: Merchants demand relief on property tax, BBMP rejects plea | Bengaluru Information

BENGALURU: While traders and various business owners have been calling for a discount on property tax due to the lockdown, Bruhat Bengaluru Mahanagara Palike (BBMP) chief commissioner Gaurav Gupta categorically ruled this out on Saturday, saying the Citizens Authority’s expenses had doubled.
Gupta said BBMP was unable to offer a discount. “To counter the Covid-19 situation, we hired many people with contracts and also rented several vehicles. In this situation, it is impossible to give a real estate tax discount, ”he said.

As at the end of May, BBMP collected Rs 1,320 billion in property tax. For 2021-22, BBMP estimates Rs 3,353. BBMP estimates revenue / funds of Rs 9,286 billion for this fiscal year and 36% will come from property tax.
A senior BBMP official said, “We have over Rs 3,000 billion pending bills for urban works completed and Rs 7,000 billion in progress.
BBMP has extended the 5% tax rebate on property tax if it is paid in one installment by the end of June.

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