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GHMC Appointed as the New Authority to Collect Professional Tax

By HIOC Team

The Andhra Pradesh state government has given permission to Greater Hyderabad Municipal Corporation (GHMC) to take charge of collecting professional tax within the city limits. According to the sources, till now, the collection of professional tax was being done by the Commercial Taxes Department. But as per the new orders, GHMC will take that... »

GHMC Decided Not to Hike Property Tax

By HIOC Team

22 April 2011: In spite of the govt. ordering the GHMC to hike property tax for the current financial year, the GHMC had decided to not to burden the regular tax payers with the hike. Instead it has opted to bring the defaulters, un-assessed and under-assessed properties into consideration and collect the taxes from... »

State Constitutes New Property Tax Board

By HIOC Team

28 March 2011: The State governments are required to fulfill 9 conditions to get performance based grants from the 13th Finance Commission for the next four years. Therefore, the AP government had setup AP State Property Tax Board (APSPTB) to get a grant of Rs.600 crore. With the help of the board, all the... »

State Government Waives off Interest on Property Tax Arrears

By HIOC Team

26 March 2011: The interest on commercial property tax arrears of the previous years, till 2010-2011, under the Greater Hyderabad, Greater Visakhapatnam and Greater Vijayawada zones are waived off by state government. But this waiver can be obtained only if the tax arrears are paid in in lump sum before March 31. The already... »

Commercial Properties to Face Increased Tax Rates

By HIOC Team

22 March 2011: From this financial year starting April 1, the tax rates of commercial properties are going to be doubled. With this increase, it is estimated that the GHMC would be able to make a profit of Rs.40 crore by the next year. With the present financial year coming to end, the GHMC... »

Everybody Pays Taxes Including Those Below Poverty Line

By HIOC Team

People have tendency to think that the lower middle class people don’t pay tax at all. Even they (lower middle class people) themselves think the same way. If you ask anyone from that category whether they are paying taxes, they will be reluctant to reply, as most of them feel guilty that they are... »

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