» Telangana Waives Off Interest On Property Tax Arrears
No Interest On Property Tax Arrears
The interest on arrears and on current year (2014-15) dues on property tax has be waived off for all the municipalities and corporations, including GHMC.
The Telangana Government has issued orders waiving off interest on arrears and on current year dues of property tax.
As per GO Ms No 42 issued by the Municipal Administration and Urban Development on Friday, the interest on arrears and on current year - i. e. 2014-2015 - dues on property tax would be waived off as a one-time act in all the municipalities and corporations, including Greater Hyderabad Municipal Corporation, provided that the assessee pays the total arrears and the current year's property tax in one lumpsum or in installments on or before March 31, 2015.
The state government further directed that if the interest was already paid by the taxpayers on arrears and/or on current year property tax demands during 2014-2015, it should be adjusted towards future property tax payments.
No cash refund shall be made, the order said. (INN)