Posted on Thursday, July 12th, 2012
Yet another story of lack of political consensus coming in way of urban reform surfaces in Punjab when BJP opposes the imposition of property tax in Punjab as drafted by its political ally SAD.
Punjab is aiming to generate more revenue to help out the fund starved finance department. As a consequence of BJP?s opposition, property tax will not be included under the resource mobilization scheme for the state?s finance department.
Punjab, which has already been suffering from forgoing of octroi, has drawn up a new list of items on which tax is to be imposed. The new list includes sugar and textiles and also imposition of taxes on mobile towers installed.
Apart from these new inclusions, few existing taxes may also be revised upwardly, such as road tax and registration fee for property transaction.
To read more real estate news:
NMC drafts immediate payment of property tax in Nashik
Source: The Indian Express
Tags: BJP, Finance department, mobile towers tax, property tax, property transaction, Punjab, resource mobilization scheme, road tax, SAD, state finance department
Source: http://www.commonfloor.com/stories/political-disagreement-holds-back-tax-imposition-in-punjab-24648
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