Pune : Property owners in PMC must submit residence proof to avail 40% tax exemption

Share This News

The news of 40 percent exemption being reinstated in property tax for property holders in Pune Municipal Corporation jurisdiction brought a big relief when the state government announced its decision last month. 

The civic administration recently informed that it will distribute new bills from May 15, but property holders must submit an application (PT 3 printed application) with proof that the property is self occupied by them and the application should reach before November 15, 2023 to PMC

If a property holder shares false information, he won’t be liable for the benefit of exemption in the property tax. Property holders must attach proof of residence to the application. If the PMC office fails to receive the application before November 15, the property will not be considered for exemption. The tax inspectors will check the property and its documents. 

The PMC had cancelled the 40% exemption and levied 100% tax on about one lakh properties taxed from April 1, 2019. Property holders who have paid 100% tax for the last four years, will be given the benefit of 40% concession in tax bills over the next four financial years in four phases.

According to a senior official in PMC, the 40% tax discount that was cancelled in 2018 has been re-instated for property owners in Pune. This discount will be applicable from 2019. Additionally, the 15% deduction for maintenance and repair of residential and non-residential properties before April 1, 2019, will be cancelled, and 10% will be given. However, this will only be executed from April 1, 2023.

PMC launches various schemes for citizens to pay taxes timely and completely, which encourages in imcreasing our collection of revenue. The Municipal Corporation has introduced a unique prize scheme for regular taxpayers this year. Under this scheme, regular taxpayers can participate in a lucky draw scheme and they will be awarded with attractive prizes”, shared PMC Commissioner Vikram Kumar.