Hello,
You are required to pay property taxes if you own a property. It is an expected expense that new house owners need to budget for when they consider purchasing a home. You must have also heard about "property tax arrears." When you pay property taxes in arrears, it means that you pay your bills for the year in the closing months of that same year. Let me tell you how to know property tax arrears in Delhi:
If you want to know how to check property tax arrears in Delhi, then you can visit the official website of MCD
Click Here to Go to MCD’s Website
This website provides details of property tax arrears and penalties. Log in to the platform and look for the option regarding the same.
Now that you know how to pay arrears of property tax in Delhi, let me tell you how to calculate property tax arrears in Delhi:
Property Tax = Rate of Tax x Annual ValueRate of Tax = MCD publishes the tax rate for A to H categories yearly. You can easily check the applicable tax rate on the MCD online portal.
Annual Value = Structure factor x use factor x unit area value per sq. m. x occupancy factor x unit area of property x age factor
This is how to calculate arrears of property tax. Let me also tell you about the arrears of rent Income Tax Act:
The amount of arrears of rent received from a tenant by an assessee is deemed to be the income from house property in respect of the financial year in which such rent is received and needs to be included in the assessee’s total income under the "Income from house property" head, whether the assessee is the house owner or not in that financial year.
A sum equal to 30% of the arrears of rent will be allowed as a deduction.
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I hope you like my answer on how to know property tax arrears in Delhi.
how to calculate arrears of property tax?
Shweta
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2021-12-02T16:58:14+00:00 2021-12-06T12:56:40+00:00Comment
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