PMC clears confusion around 40% concession on property tax. Check for details here.
Pune Municipal Corporation's Revenue Soars to ₹ 2,300 Crore from Building Permissions in 2023-24
June 10, 2023
Pune: Ever since the Pune Municipal Corporation (PMC) has announced a 40% concession on the property tax, it has led to a lot of confusion amongst people. In a move to end the confusion among the people, the PMC has given the following details:
If the property tax is paid before April 1, 2019:
The properties, residential or non-residential, will have an increase in concession by 5% in their yearly concession on the taxable amount for refurbishment if the property tax for the same is paid before April 1, 2019.
The property taxpayers need not fill the PT-3 form for a 40% concession as they would have already paid their property tax amount before April 1, 2019 for which they already get a 40% concession.
If the Property Tax is Paid after April 1, 2019:
The residential properties, for which property tax is paid after April 1, 2019, have got a 40% concession in the 2023-24 financial year. Since the concession is for self-occupied properties, to avail the 40% concession from the date the property tax is paid till today; all property taxpayers must pay their property tax for the financial year 2023-24 & submit PT-3 form by November 15, 2023 at the nearest office along with 2 residential proofs.
If the property taxpayer has paid full property tax, then the extra amount with the PT-3 form will be adjusted in equal instalments for the next 4 years. If the property tax form is not submitted within the said time frame, then, assuming that the property taxpayer is not using the concession amount for self-occupied properties, the concession amount given in the financial year 2023-24 will be stopped and the due differential amount would be paid.
If the concession is removed vide GIS survey dated April 1, 2018:
Those properties for which concession of 40% is cancelled vide Geographic Information System (GIS) survey dated April 1, 2018 and those properties for which initially, the details of due differential amounts were sent, are granted the benefit of 40% concession with effect from April 1, 2023. For all the above earnings, benefits of the concession of 40% from the correction date (meaning those residential earnings which are due for this concession with effect from 1st April 2018 to 31st March 2023 but are not granted) to avail the facility of the concession & to continue availing this facility for the period starting 1st April 2023, the property holder is expected to submit PT-3 form at the nearest office with 2 residential proofs. If the concerned property holders have paid the full amount earlier, the excess amount will be reconciled via 4 equated instalments of the financial year 2023-24 after the PT-3 form is submitted. If the property tax form is not submitted within the said time frame, then, assuming that the property taxpayer is not using the concession amount for self-occupied properties, the concession amount given in financial year 2023-24 will be stopped and the due differential amount will be paid.
Considering that 2023_3 and 2023_4 are the amounts of the earlier sent 40% differential amount, if the property owner stays in the said property, apart from the arrears, the remaining amount must be paid. Action will be taken on the earlier arrears remaining after submission of the PT-3 form. If the property owner is not staying in the said property, the property owner must pay the entire amount along with arrears as it is mandatory.
Essential documents to be submitted with the PT-3 form to avail the concession:
- No Objection Certificate (NOC) of the society for the self-occupied property so that it is not rented
- voter id
- passport
- driving license
- gas card
- ration card and
- a copy of property tax if the person has more properties anywhere else.
The property owner must submit PT-3 form along with Rs 25 challan fee in the nearest office. After submitting everything, the peth inspector/departmental inspector will check the documents following which the tax collection chief would finalize the case.
(Tip – The 40% concession is applicable for only those residential properties which will use the concession for self-use)
