Posts Tagged ‘Tax calendar’

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A huge rush at the BBMP property tax collection centres

Monday, November 30th, 2009

BBMP property tax kiosks had a busy day on Sunday, the last date for paying the second installment of property tax for 2009-10 without penalty. There was a huge rush at the Bruhat Bangalore Mahanagara Palike (BBMP) property tax collection centers. “Our online property tax collections have touched Rs18crore. The online collection on Sunday alone stood at Rs35 lakh,” a senior BBMP official said.

Devendrappa, assistant revenue officer at the Mayo Hall BBMP office, said, “About Rs75 lakh was collected at our office on Sunday alone. In the three wards of Neelasandra, Shantinagar and Richmond Town that come under our jurisdiction, there are 20,000 property holders and 75% of them have paid the property tax. “Notices are being issued to 6,000 defaulting property holders. The defaulters will now have to pay the property tax along with a 2% monthly penalty,” he said.

There was huge rush at the property tax collection centers on Sunday, raising the levy collection for the year to Rs500 crore.The online collection on Sunday alone stood at Rs35 lakh.The defaulters will now have to pay the property tax along with a 2% monthly penalty.

Reference:

bbmp property tax kiosks had a busy day

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Hundreds Of Property Owners Hounded By BBMP Despite Having Paid Tax

Tuesday, November 17th, 2009

BBMP has sent nearly 2 lakh notices over the past 10 days. May 30, 2009, was the last date to pay the second half installment without penalty for 2008-09. Technically, the BBMP has powers to issue notices from September. However, the process was delayed till the compilation was complete.

In its drive to catch errant taxpayers for the previous block period (2008-09), the Palike has surprisingly been snaring a few regulars. This has shocked both residential and commercial property owners. Venkatesh, staying in an apartment on Sarjapur Road who promptly paid tax for both block periods within the rebate period, was shocked when he received the notice. It said the BBMP is yet to receive tax on his property for the previous year.

BBMP revenue officials, who confirmed the mistakes had indeed happened, said it could be in cases where people paid tax on the cut-off date or later.  “We admit it’s a mistake but you needn’t panic if you have the receipt. You must produce it and ignore the notice,’’ a BBMP official said.

According to BBMP records, only 7.63 lakh property owners of the overall 20 lakh properties in Bangalore have paid tax for 2008-09. This includes 2.6 lakh owners in core areas which have 6.9 lakh properties. A majority of residential property owners in the newly added areas are yet to enter the tax bracket for the previous block period. All this when the November 30 deadline for payment of second-half instalment for the current block period is not too far away.

Reference:

Times of India

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BBMP hopes to collect at least Rs. 800 cr. this year

Tuesday, September 1st, 2009

According to a revenue official, the last date to pay the first installment of property tax for the financial year 2009-10 ended on Sunday. From beginning of financial year to  August 30, Bruhat Bangalore Mahanagara Palike (BBMP) has collected approximately Rs. 380 crore as property tax from around 4.3 lakh residents of the city.

Last year, around 7.5 lakh property owners paid tax to the tune of Rs. 748 crore to the civic authority. The official said property owners had just two months’ time to pay the property tax under self-assessment scheme last year. This year however, they have been given abundant time and they can pay the tax, albeit with penalty, till October-end.

The official said that the civic authority hoped to collect at least Rs. 800 crore as property tax this year. BBMP targets for 1000 crore and to ensure 100 per cent payment, BBMP will use Geographical Information System, that enables to scrutinize the details such as built-up area, number of floors and usage of the property.

While four lakh owners filed their tax returns at various centers identified by the BBMP, more than 30,000 property owners chose to go online. The official also said that the BBMP had received a lot of complaints from property owners last year about the cumbersome procedure involved in filing the tax returns.

Tax Calendar
August 30- Last date for payment of property tax for full year or First half-year without penal interest.

November 30- Last date for payment of property tax for second half-year without penal interest.

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Guidelines for BBMP property tax 2009-10

Thursday, July 9th, 2009

BBMP Bangalore (Bruhat Bengaluru Mahanagara Palike) has started accepting property tax for 2009-10. BBMP has introduced two forms Form IV and Form V instead of previous year forms of Form I for properties with PID number, Form II for properties with only Khata number and Form III for properties with neither PID nor Khata.

Tax payers can file their return either with Form IV or Form V. Form IV is for property that has no change either in category, usage or structure. It is available in White. If there is any change in property category, usage or vacant land to new completed construction, tax payers can file their return in Form V. Form V is available in Blue.

Use Form IV (White) for property if there is no change in category, usage and structure with previous year filing.

In Part I fill your personal details as follows:

Column 1: Enter your property number with 2009-10.

Column 2: Tick the color of form submitting and the number printed on acknowledgement form.

Column 3: If revised is submitted details with its date and application number. If no revised is submitted enter N.A.

Column 4 to 9: Fill the details furnished in the previous year’s filing.

In Part II fill details of previous year’s tax paid (2008-09)

Column 10a: Go to page 5 of the previous year form (if revised one is submitted) COMPUTATION OF TOTAL TAX PAYABLE and copy the figures in column 17.

Column 10b: Copy the figure of column 18 of the previous year form.

Column 10c: Copy the figure of column 19 of the previous year form.

Column 10d: Copy the figure of column 20 of the previous year form.

Column 10e: Copy the figure of column 21 of the previous year form.

Column 10f: Copy the figure of column 22 of the previous year form.

Column 10g: If paid in installment write N.A. and if paid in full copy the figure of column 26 of previous year’s form and receipt number with issue date.

Column 10h: Enter the payment details if paid in installment and if you filled column 10g write N.A

Column 10i: Fill the year as 2009-10 and copy the figure of 10a.

Column 10j: Copy the figure of column 10b.

Column 10k: Copy the figure of column 10c.

Column 10l: Copy the figure of column 10d if availed OR calculate 5% of the amount in 10k and write.

Column 10m: Copy the column 10e OR calculate and write.

Column 10n: If a revised return is submitted, enter the figure shown as in column 26 of that return OR put a dash.

Column 10o: Copy the figure of column 10m or calculate as the case may be and write. Enter the amount to nearest rupee (ensure to round off the amount)]

Column 10p: Copy the figure of column 10c.

Column 10q: Divide the figure of column 10p by 2 and write.

Column 10r: Copy column 10q.

Column 10s: Copy the figure in column 10f.

Column 10t: Calculate by deducting figures column 10q & s.

Column 10u & v: Self explanatory calculations.

Column 10w: Calculation of the above. (Round off amount to nearest rupee).

If you decide to pay your property tax for full year on or before July 30 to avail tax rebate of 5 per cent, go to 10A (Computation of property tax for the year ——–if paid before——–to avail 5% rebate) fill up 10A and score off column 10B as “Not Applicable”. If you decide to pay your tax in installment or after July 30 fill up 10B and score off column 10A as “Not Applicable” (Computation of property tax for the year ————installments).

Fill the payment details and sign with date. Fill in the acknowledgment in duplicate get the entire form photo-copied and make payment at your designated help center. If there is any change in property category, usage or vacant land to new completed construction, you can file your return in Form V. Form V is available in Blue. The calculation for property tax is done in previous year.

Tax payers can pay property tax online using their credit card and there will be no transaction charges for making payment online. Debit card can be used for online payment of property tax but the card holder should obtain activation facility from the issuing bank for online payment.

For online payment tax payers can visit BBMP property tax website and select either form IV or form V which ever is applicable and if property tax is paid in two installments for the current year, then two separate forms should be filed for each half year. Tax payers need to enter application number for property tax paid in 2008-09. Select the ward and help center and submit continue for going to next page.

Don’t go wrong with statement in form “Depreciation cannot be claimed for 2009-10 and 2010-11 as depreciation can be claimed once in the block period i.e. 2008-09 to 2010-11”. The actual wordings should be “No Further Depreciation To Be Calculated Even If The Age Differs In The Slab Provided On Page 18 Of The Handbook As Annexure – III” for the given block period of Three years (at present).

Tax Payers can contact BBMP

Between 10:30 AM to 1:30 PM and 2:30 PM to 6:00 PM (All working days)
Phone No: 080-22247622 ; 080-22247629
Email: bbmpsas@bmponline.org

  • Disclaimer: The article contains data collected from various sources and the use of same is at readers discretion.

Links to refer

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File Your Property Tax Return For The Year 2009-10

Thursday, July 2nd, 2009

Property owners and tax payers can file their property tax return for 2009-10 from July 1, 2009. BBMP-Bangalore starts accepting the property tax return at all Citizen Help Center. Tax payers can either pay full year tax at lump sum or pay in two installments.

Form IV (White Form)

Tax payers can file their property tax in Form IV or Form V for the year 2009-10. Form IV is provided for property owners where there is no change in extend of built-up area, usage, occupancy or category from the returns filed for the year 2008-09. Form IV is available in white form.

Form V (Blue Form)

Tax payers who has made change in the extend of built-up area or usage which converted from residential to non-residential or converted non-residential property to residential or its occupancy should file return in Form V. If there is any change in property category or vacant land to new completed construction, tax payers can file their return in Form V. If property has no change comparing with previous return for 2008-09, tax payers can file return in Form IV. Forms for filing returns for 2009-10 are available at all Help center.

White Form is for Form IV where property has no change and Blue Form for Form V where property has change from previous return.

Tax Paid Receipt Only After Realization of Cheque

Tax payers can submit duly filled returns at respective Help Center. If payment is made by DD or Pay Order, receipt will be issued on the spot. If payment is made by cheque, receipt signed by respective official will be delivered only after realization of cheque. Tax payers can get acknowledgment for receipt of return on the spot and official receipt will be given only after realization of cheque.

Get 5 Per Cent Rebate on your Returns

Tax payers can avail tax rebate of 5 per cent if the property tax for 2009-10 made in lump sum on or before July 30, 2009. Return can be filed in two installments and last date for payment of property tax for full year or first half year without penal interest is on August 30, 2009. Last date for Second half-year without penal interest is on or before November 30, 2009.

Points to Remember

  • Form IV (White Form) - For property where there is no change with return filed in 2008-09.
  • Form V (Blue Form) - For property where there is change in extends of built-up area, usage, occupancy or category from the returns filed for the year 2008-09.

  • Receipt of Returns- If payment is made by cheque, acknowledgement for receipt of return is available on the spot and receipt signed by official is available only on realization of cheque.

  • July 30- Last Date for filing returns for full year and avail the benefit of 5 per cent rebate.

  • August 30- Last date for payment of property tax for full year or First half-year without penal interest.

  • November 30- Last date for payment of property tax for second half-year without penal interest.

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Saral Form May Reintroduced For Filing Returns For Salaried Person

Tuesday, June 30th, 2009

Government is considering to re-introduce “Saral” form filing Income Tax return. Saral form was discontinued in 2007-08. If “Saral” form is re-introduced, individuals having only interest income and salary can file the Income Tax returns easily.

Currently tax payers are using ITR-1, ITR-2, ITR-3 and ITR-4 for filing returns. Salaried person or tax payers will have PAN card. PAN card has all details of income stream and tax payer. Saral form will make filing of Income Tax Return simple and easy for individual tax payers.

Under TDS, employer deducts tax from monthly salary of his employee and deposits the same with government. Banks will deduct tax from interest before crediting into the account. The bank will have to deposit the same with government. While depositing the tax, bank and employee must file returns showing the details of tax collected and income of employee. Saral form was discontinued by department, and introduced new series of forms for IT returns.

Form Nos. 16, 16A and 27D have been amended. These amended forms call for some additional information like, ‘TDS Certificate Number’, ‘TDS Unique Transaction Number (UTN)’ and ‘Status of Validation of PAN by Income-tax Department. Unique Transaction Number (UTN) has made mandatory for filing returns. Department has asked assesses to quote the UTN whose tax is deducted at source. Assesses must ensure that the deductor and the collector have provided them with separate UTNs in respect of each TDS and TCS transaction.

Links to refer:

New TDS Provisions applicable from Ist July, 2009

TDS assessees need to quote unique number in I-T return

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Tax Payers Will Get Tax-Paid Receipt Only After Realization Of Cheque

Monday, June 29th, 2009

In new block period, tax payers will get tax-paid only after the realization of cheque. According to BBMP, cheques submitted by the tax payers in current block period nearly 13,000 cheques had problems. Out of these, 6,000 cheques had no date or even payee name on the cheque. The tax-payers were traced by using contact detail available on the cheque. Out of 8000 cheques received, 4000 cheques are yet to be encashed.

The new block period tax starts from July 1st. Property owner’s can start paying their property tax online from this July 1st. BBMP will introduce system of giving tax-paid receipt only after realization of cheque from new block period. Since many people use tax-paid receipt for rebate on income-tax, BBMP may write to the Income Tax department, asking it to decline exemption to defaulters till their cheques are encashed.

June 30, is last date for filing returns for current block period (2008-09). One day is left to pay the second half year installment without 2% penal interest and last day for filing revised returns. BBMP has also issued a notification to occupiers of tenant property to ensure prompt payment. BBMP is planning to have separate windows for collecting tax and revised returns, anticipating the response in past few days.

Tax Dates

  • June 30: Last day for filing property tax 2008-09 and filing revised returns for those tax payers who made mistake in filing the returns.
  • July1: Tax payers can start paying property tax for 2009-10 online or at citizen center.
  • July 30: Last date to avail 5% rebate for tax paid in full
  • August 30: Last date to pay tax for the whole year or the first half-year installment without penalty (at 2% interest per month).

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Marginal increase in Income tax exemption is expected

Thursday, June 18th, 2009

According to sources in finance minister, the center is likely increase income tax exemption limit in forthcoming general budget. Government is considering a proposal to hike income tax exemption limit to boost demand and rebuild the slowdown-hit housing industry.

At present tax payers are eligible for exemption of income tax on interest rate paid up to Rs 1.5 lakh every year and it is likely to increase to Rs 2.5 lakh a year. If the proposal is accepted, tax payers will save up to Rs 31,000 a year from income tax exemption this will make purchasing home more affordable. However, tax payers can get this benefit only after construction of house is completed.

While acknowledging the fact that a “marginal” hike in the income-tax exemption limit will lead to some revenue loss, the Tax Research Cell (TRC) believes that the very injection of a “feel good” factor into the economy will have a positive spiraling effect on the “demand dynamism.”

Reference

www.deccanherald.com

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Property Tax Payers List Published By BBMP

Tuesday, June 16th, 2009

BBMP has released the list of owners who have paid their property tax 2008-09. You can check the details of your property tax paid and if you find any discrepancy, you can report BBMP online.

BBMP is updating list of property owners who paid property tax 2008-09.The property has been indexed Assistant Revenue Officer (ARO) wise, Ward wise and Street wise. This enables property owners to check the tax payment details easily.

Checking  tax payment details

  • Click on “Property tax paid by tax payers for 2008-09” to check your payment details.
  • This will lead you to guidelines to use the site for checking your payment details. Click “Next” and again click “continue” to proceed further.

  • On next page you can see two link one for property tax payers who filed return and other for tax payers who have not filed return. Click on the property tax payers who filed return.

  • You can see list of ARO, select the ARO which is applicable for you, then your ward and street. After selecting your ARO, ward and street click on “Report” to view the details.

  • This will generate list of tax payers in your locality or area. To view the details of return filed click on green link “Click” This will ask you to feed cheque/DD/ pay order number to view the details. Enter your cheque or DD number to view the details of payment.

  • If the details found have any error or discrepancy in the report, you can report the same to BBMP online. To report discrepancy click on blue link “Click”. Enter the details of payment such as cheque or DD number, amount paid, Name and branch of bank and feed back or remarks. On remarks/feedback column you can briefly explain the discrepancy details. Click “Send” to send the discrepancy details.

If your property details is not found in list

Don’t get panic if your name is not in the list of property tax payers list even though you have paid property tax in time. BBMP is been entering the data of property tax payers, you can report your details to BBMP showing that you have paid property tax. You need to follow these simple steps to report BBMP.

  • When you visit BBMP website and entered the details of ARO, ward and street, report will generated showing the list of data available of property tax payers.

  • In the bottom of the page you can see a link “If your property is not found in the list Click here to give Details”. Click on the link to give to your details.

  • You will get a page to enter the details. You need to enter your application number, details of cheque or DD such as Name and branch of bank, cheque number, Amount paid. You need to select the help center name from the list. Enter remarks for the same.

Report Discrepancy

  • Green Link: Green link enables property owners to view the details of property tax return filed. To view detail you need to enter you cheque/DD/pay order number and click continue to view details.

  • Blue Link: If there is any discrepancy in the details entered by BBMP, property owners can report the same to BBMP in online. This link can also be used by tax payers to give feed back or suggestion to BBMP.

  • Brown Link: If a tax payer does not find his return entered, he can use this link to report the same to BBMP. Now Bangalore citizen can also provide information of Evasion of property tax. To provide information on evasion of property tax, citizen can application number of property owner and give brief description about evasion of property tax and BBMP will verify the same. Brown link is at the bottom of page where list of property tax payers are listed ARO, ward and street wise.

Pay your property tax for 2008-09 on or before June 30 and remember now citizen can inform the tax evaders in just a single click. Brown link helps BBMP to get evasion of tax and any complaints. Make prompt payment of your property tax and save from penalty.

Links to Refer:

BBMP Property tax system (property tax 2008-09)

BBMP-Bangalore

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Online System for Paying Property Tax 2009-10

Monday, June 15th, 2009

Property owners in Bangalore will experience new method of paying property tax from this July. Online system enables property owners to pay their property tax online using their Visa/Master card without any extra charge on their card. From this July onwards you no need to stand in queue or wait for assistance at help center.

The meeting held between BBMP and revenue officers for discussing the action plan for 2009-10 come up with decision to go online. A training session is also planned to organize before July 1 or before system becomes operational in full capacity. BBMP hopes to redress tax issues of current block period. Some corrective measures by adopting online system are reducing manual process, accepting only completely filled forms and an opportunity to make prompt payment of property tax by the owners outside the city.

If you want to pay your property tax by cheque, you can fill up the form online and download them to submit at respective help center. There will be two forms available online.

  1. Form IV for property where there is no change in built-up area or property usage
  2. Form V for the property with changes in these parameters.

Paying property tax online

  • Login to BBMP website www.bmpoline.org and enter your application number in the box to get access to details of previous tax paid.
  • Fill up the mandatory field and details of tax calculated. To pay property tax you can either pay online using Visa/ Master card or download the filled up form to pay by cheque.
  • To pay online enter the details of card and submit it. Download the acknowledgment receipt on submission. BBMP will send the hard copy of the same.
  • To pay by cheque, submit the cheque at respective help center along with downloaded filled up form.

From the beginning of July, you need not require to stand in queue or run towards help center for paying property tax. You can pay your property tax using your Visa/ Master card. National Informatics Center and IDBI bank has agreed to provide the `payment gateway‘ free of any extra charge on the card user. Pay your property tax online and remember to download the acknowledgement receipt after submission.

Links to Refer:
Pay your property tax online

www.bmpoline.org

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