Mcd property tax online 2022-23

Budget 2021 update :It has been proposed to exempt the senior citizens from filing income tax returns if pension income and interest income are their only annual income source. Section 194P has been newly inserted to enforce the banks to deduct tax on senior citizens more than 75 years of age who have a pension and interest income from the bank. Introduction to MCD property tax Property tax are the principal source of revenue of urban local bodies/local municipal authorities to maintain the basic civic services in the city. As property tax administration is delegated to municipalities within the state, owners of properties in Delhi are liable to pay property tax to Delhi Municipality body called Municipal Corporation of Delhi (MCD) every year. Studies show that property tax base in developing countries has been declining due to lack of proper information, inefficient administration and procedural inadequacies. Therefore, MCD wishes to achieve its objective of providing transparent, accountable and efficient citizen-centric services to the citizens of Delhi through the use of Information Technology. Property tax division of MCD has initiated an innovative, broad based approach of Public-Private Partnership (PPP model). MCD levies property tax on all buildings including vacant land. Out of the three methods of computing property tax (i.e., Annual Rental Value, Capital Value System, Unit Area System), MCD chose to adopt Unit Area System which is also recommended by Government...