InvestorQ : What are the benefits of paying property tax in India? How to pay such tax? What if the tax payment is delayed?
NISHA Nayak made post

What are the benefits of paying property tax in India? How to pay such tax? What if the tax payment is delayed?

Answer
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ramya Bhaskaran answered.
1 year ago


Well, if the government charges money from you for something, it’s because it will provide you benefits. In case of a property dispute, one can use a property tax receipt as a testament to his ownership. When someone gets his property registered at the local municipal body, he needs to produce ownership documents. A property tax receipt can be helpful when you need to produce documents for obtaining a loan.

How to pay?
During previous years, one has to go to the municipal corporation office, but with the advancement in technology, the same can be paid online. You can visit your corresponding municipality’s website and make the necessary payment. All you will need for the same is your property tax number.

Late payment:
As you must have understood by now, it is crucial to pay property tax annually. Late payment can cost you more. Late payment of property tax attracts a fine of 2% per month. But, to know your late payment charges you must be aware of how you’re taxed.