Delhi Govt Earns 30 Per Cent More Property Tax

The Municipal Corporation of Delhi (MCD) has collected close to 30 per cent property tax in 2011 as compared to the last year. Overall, MCD collected over Rs 1,500 crores, including Rs 728 crores in transfer duty, during the financial year 2010-11. MCD officials attribute the sharp rise to the increase in the transfer duty and the increase in the number of taxpayers. Last year, MCD collected just close to Rs 1,158 crores as property tax, including Rs 460 crores as transfer duty. "This year, close to 10.35 lakh people have paid their property tax -an increase of 5.5 per cent," said Mr Ved Prakash Gupta, chairman, high-powered tax committee, MCD.

April 29th 2011, delhiscoop