Kumari Palany & Co

Greater Chennai Corporation: Penalty for those who fail to pay Property Tax!

Posted on: 30/Sep/2020 3:46:26 PM
Greater Chennai Corporation (GCC) has announced that those owners who pay Property Taxes within due time and regularly will be given certain concession whereas those owners who fail to pay Property Taxes when due will be given penalty charges!

As per the modification carried out in the Property Tax-related act by the Greater Chennai Corporation, Property Tax is being collected twice-a-year in 2 half-yearly periods.  For the 1st half of the year, Property Tax is collected in April and for the 2nd half of the year, Property Tax is collected in October.

This Property Tax must be paid within the 1st 15 days of April and October.

Greater Chennai Corporation Commissioner Prakash has announced that for those who fail to pay the Property Tax in time as stipulated above, a 2% special interest will be collected as penalty along with the due Property Tax. At the same time, for those property owners who pay Property Tax in time, a 5% incentive amount will be given.

The above modification in the related Act has been published in the local newspaper as we as the Government Journal!