Delhi Lieutenant Governor Vinai Kumar Saxena, on October 25, launched the one-time property tax amnesty scheme "SAMRIDDHI 2022–23", asserting that it will be a significant relief for thousands of city residents and business property owners.
The Samriddhi Yojana will start on October 26, 2022 and end on March 31, 2023.
What is the 'SAMRIDDHI 2022-23' one-time property tax amnesty scheme?
In this scheme, residential property owners only need to pay the principal property tax for the current year and the previous five years. According to a formal declaration, owners of commercial properties can pay the principal due for the previous six years and receive a remission of any past-due fees, including penalties and interest.
SAMRIDDHI 2022-23 is a scheme that will provide relief to the residents and also urge the property owners to get rid of long-standing disputes and related harassment.
Residential property taxpayers are required to pay the principal amount of property tax for the current year and the previous five years on which a 100% exemption from interest and penalties on the outstanding tax amount will be received and a waiver of all prior dues prior to the previous five years.
Similarly, non-residential taxpayers are required to pay the principal amount of property tax for the current year and the previous six years on which a 100% exemption from interest and penalties on the outstanding tax amount will be received and a waiver of all prior dues prior to the previous six years.
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If a taxpayer doesn't pay his tax debt by March 31, 2023, he will be responsible for paying all back taxes, interest, and penalties dating back to 2004 or the prior year they were unpaid, and shall not be entitled to any waiver.
By being more practical about the enforcement of its backlog of unpaid tax obligations, this new amnesty scheme will also broaden the tax base and allow MCD to create a proper tax database.
Launched "SAMRIDDhi 2022-23"- MCD's Unique & Comprehensive One Time Property Tax Amnesty Scheme, effective from 26.10.22 to 31.03.23.
— LG Delhi (@LtGovDelhi) October 25, 2022
Aimed at easing people's longstanding Tax liabilities, it will provide impetus to Delhi's Municipal Services.
I appeal all to avail of the scheme. pic.twitter.com/yhdnVBdxGK
The tax amnesty scheme, according to the announcement, includes a "One Plus Five" option for residential properties and a "One Plus Six" option for non-residential properties.
Tax exemption implies more money in the hands of taxpayers and more revenue for MCD, allowing the civic body to invest in much-needed civic infrastructure for better service delivery to the people of Delhi.