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This is an archive article published on February 23, 2024
One-time settlement announced for property tax evaders in Bengaluru
The one-time settlement for property tax evaders in Bengaluru will include payment of the pending tax amount with interest and a penalty for evading tax.
The BBMP (Amendment) Act, 2024, was passed by the Legislative Assembly on Wednesday to reduce penalties for property tax violations in Bengaluru by nearly 50 per cent. (File Photo)
In a move that will come as a respite for property tax defaulters in Bengaluru, the Karnataka government has directed the Bruhat Bengaluru Mahanagara Palike (BBMP) to implement a ‘one-time settlement’ (OTS) for the collection of dues under its jurisdiction.
The OTS will include payment of the pending tax amount with interest and a penalty for evading tax.
On Thursday, an order issued by H S Shivakumar, the under-secretary to the urban development department, said that a penalty of 25 per cent (on tax evaded) will be imposed on residential properties with tiled or sheet roof (non-RCC) not exceeding 1,000 sq ft for own use and having only ground floor.
The government also stated that there will be no penalty on slums, government housing facilities for the poor and houses of less than 300 square feet for own use in residential properties declared as slums by the Karnataka Slum Development Board or BBMP under the scheme.
The notification orders will be in effect till July 31 this year.
The BBMP (Amendment) Act, 2024, was passed by the Legislative Assembly on Wednesday to reduce penalties for property tax violations in Bengaluru by nearly 50 per cent, with tax penalties applicable only for a maximum period of five years and interest waived off for dues beyond five years.
“With the passing of this amendment bill, the penalty amounts are reduced and will save Bangaloreans Rs 2,700 crore in penalties. The BBMP will be able to collect penalties worth Rs 1,000 crore,” Deputy Chief Minister and Bengaluru Development Minister D K Shivakumar had said.
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