To speed up the tax process, a brand new program to ease tax burdens on property owners called SAMRIDDHI 2022-23 was announced in Delhi. The plan not only aims to broaden the reach of tax relief, it is also designed to offer relief to homeowners who are owed tax dues. 99acres provides a brief overview of the latest developments!
Delhi Lieutenant Governor Vinai Kumar Saxena launched a one-time property tax amnesty program named 'SAMRIDDHI2022-23 on the 25th of October, 2022. The scheme will be in effect through the 26th of October, 2022 until March 31st 2023. The scheme aims to offer relief to residential and commercial property owners living in the city.
What is SAMRIDHHI 2022-23?
SAMRIDDHI means The Enhancement and Strengthening of Municipal Revenue for Infrastructure Development in Delhi. The scheme will be in effect until the 26th of October, 2022 to March 31st 2023 and will not be subject to any further extensions. The scheme was launched to help resolve thousands of unresolved court cases after that the method of unit-area calculation of the calculation of property taxes calculation was established in 2004.
How do I pay the property tax in the SAMRIDDHI scheme?
Property owners who choose to opt for the SAMRIDDHI scheme will be legally required to cover the primary amount for the 'One Plus Five years. Therefore, the tax on homes will be computed over six years, that's the current financial year, as well as for the years 2017-18 until 2021-22. For commercial properties, owners must pay taxes for the 'One Plus Six years' which is the current year, and then from 2016-17 until 2021-22. The owners of the property will be granted 100% exemption from penalty and interest on the tax balance that is outstanding as well as a waiver of any dues prior to the year 2016-17. The tax payment will be inspected for a year, following when the case is completed.
In the areas that are not planned residents of homes in these colonies are required to pay the full amount of tax dues on property for the fiscal period 2021-22 through 2022-23. After that, all taxes due on property before FY 2021-22 will be eliminated.
What are the most stringent steps to take against tax evaders?
The Authority is planning to implement coercive measures against those who default to collect tax from on April 1st, 2023. If a taxpayer chooses this option and fails to pay taxes due on or before March 31st, 2023 then he will be responsible for paying all tax dues, as well as penalties and interest from 2004 or in the upcoming year. Additionally, he won't be eligible for any exemption.
In addition, if a tax payer has already paid taxes for any of the years prior to 2017-18 or 2016-17, but is not entered on the Municipal Corporation of Delhi (MCD) tax information He will need to present proof of the payment to ensure it can be recorded in the database of tax information so that will be changed.
Despite several amnesty plans the property tax net in Delhi is not as extensive. In September 14th, 2022 the MCD also announced an amnesty program for homes in colonies that aren't authorised as well as irregularised colonies that were not authorized. Lal Dora, Extended Lal Dora and Extended Abadis in villages.