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GHMC Gains 65 Crores Revenue In Old Denominations

GHMC engrossed a revenue of Rs. 65 crores in the past 2 days following the Centre's orders to accept old denominations of Rs. 500 and Rs. 1,000.
Hyderabad | 12th November 2016
Greater Hyderabad Municipal Corporation (GHMC) engrossed a revenue of Rs. 65 crores during the past two days following the Centre's orders to accept old currency denominations of Rs. 500 and Rs. 1,000 from people.

As per reports, the GHMC received Rs. 55 crores taxes on Friday in form of old currency and Rs. 10 crores on Saturday, pushing the total up to 65 crores. Of the total property taxpayers, 21,000 people came under the slab of the below Rs. 10,000 property tax, 6,854 under Rs. 10,000 to 50,000, 1,193 people under Rs. 50,000 to Rs. 1 lakh, 655 people under Rs. 1 lakh to Rs. 2 lakhs, 288 people under Rs. 2 lakhs to Rs. 5 lakhs, 38 people of five lakh and above slabs.

The GHMC is expected to make more revenue till Monday.

GHMC Commissioner B Janardhan Reddy urged citizens to pay up their property taxes in old currency immediately to avoid fine.
filed in:  GHMC, Revenue, Centre, Demonetization, Taxes, Property Tax, Telangana
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