Wednesday, May 22, 2024
    HomeHyderabadTelangana government offers 90% waiver on property tax arrears interest.

    Telangana government offers 90% waiver on property tax arrears interest.

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    The Telangana government has decided to waive off 90% of the accumulated arrears interest on property tax for taxpayers who clear the principal amount of their property tax dues until the financial year 2022-2023. This decision came after requests from the GHMC Commissioner and the Director of Municipal Administration.

    Under the ‘One Time Scheme’ (OTS), property owners in Greater Hyderabad Municipal Corporation (GHMC) limits and other ULBs can avail of this waiver by paying the principal amount of their property tax dues along with 10% of interest on accumulated arrears at once. This applies to both private properties and government properties.

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    Additionally, taxpayers who have already paid their property tax dues, including interest and penalties, until March 2023 will have 90% of the interest adjusted against future payments. This scheme aims to provide relief to property owners and encourage timely payment of property taxes.

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