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PUNE PROPERTY TAX | Company Vakil
  1. PUNE PROPERTY TAX INTRODUCTION

Pune municiple corporation (PMC) or Pimpri Chinchwad Municipal Corporation (PCMC) is responsible for assessment of property and to give it a value and to levy tax on real and personal property of a person in Pune.  PMC was established on 1950 and since then property tax has been the second largest revenue next to octroi to PMC.

In September 2016, the PMC started the geo tagging of property in its jurisdiction and identification of unauthorised and illegal property to automate entire property tax assessment process and to boost its revenue with the help of geographic information system (GIS).  Various exercises that comes under this includes verification of existing property size, information about owner of the property and their documents etc.  more than 8 lakh properties are covered under PCM out of which few have been mapped with the help of GIS tool where as remaining are expected to be mapped soon. By identifying all properties, it enables the identification of defaulters which result in crease of the revenue for PMC.

Company Vakil provides services related to Gst Registration in Pune

All the properties and vacant lands under municipal corporation limits are applicable for property tax. Carpet area of building/ property is taken in account for assessment of property tax. For the property tax calculation PMC follows capital value based system.

  1. FORMULA FOR PUNE PROPERTY TAX COMPUTATION

The property tax is total percentage of the cost of the property which is established by the ready reckoner which is used by revenue department to calculate stamp duty.

PROPERTY TAX= tax rate* capital value

CAPITAL VALUE= base value* built up area* usage* building type* age factor* floor factor

A user can calculate the property tax online by entering locality, area, usage, type, total plinth area and age of property by PMC

  1. PENALTY, DUE DATE AND OTHER REWARDS

PMC-

  • Due date- due date is 31st may for the first half year ( April 1st to September 30th) and 31st December for second half year ( October 1st to march 31st)
  • 2% penalty is charged per month in case of payment delay beyond due date. Which means penalty is charged from 1st July for first half year and from 1st January for second half year
  • Following rebates are given if entire property taxes paid by 31st may:
    • For residential/ non residential/ open plot property registered as residential building- in case of annual rateable value up to Rs 25,000- 10% discount on general tax and in case of annual rateable value of Rs 25,001- 5% discount on general tax
    • If a residential property have solar, vermiculture or rain water harvesting then- 5% discount availed on municipal tax ( in case of application of one of these projects) and 10% discount municipal tax ( in case of application of two of these projects)

(Excluding water and government tax)

PCMC-

  • If entire property tax is paid by June 30 then 10% concession on general tax is given

FOLLOW THE GIVEN STEPS FOR PAYMENT OF PUNE PROPERTY TAX

ONLINE PAYMENT METHOD

  • PMC
    • Go to official PMC website
    • Select ‘pay online’ or “NEFT/RTGS payment” based on your choices
    • Give the property details and then enter on submit
    • Carefully verify all the details of owner and any property tax dues shown on the screen
    • Enter the amount to be paid, verify your email ID and mobile number and choose a payment gateway such as debit/credit card, net banking as per the availability and make payment. Extra charges may be applied on debit/ credit card.
    • Print the receipt if you wish or visit http://propertytax.punecorporation.org/ to view all previous challans
  • PCMC
    • Based on the locality of your property, it may fall under pimpri chinchwad municipal corporation (PCMC) pune
    • Visit the official website of PCMC
    • Select on property tax option from residents and click on “ property bill”
    • Enter your property zone, gat no, name of owner and address to access the bill
    • Make payment
    • For any queries related to payment or assessment of property tax mail on propertytax@punecorporation.org

OFFLINE PAYMENT

You can pay property tax offline via cash/cheque or demand draft. Cheque/ demand draft should be addressed to the assesser and collector of tax, P.M.C pune’. You can pay property tax at any ward of PMC or citizen’s facilitation centres run by PMC or at bank branches such as COSMOS, ICICI, HDFC or bank of Maharashtra.

EXEMPTION/CONCESSION FROM PAYMENT OF PROPERTY TAX

PMC exempt all the properties that are used for worship, public or religious purpose or are registered with charity commissioner as charitable trust from property tax. 50% concession is given to ex servicemen/freedom fighter/ their wives, women on general property tax and 40% to the person with more than 40% disability.

INCOME TAX IMPLICATION

Don’t forget to claim municipal taxes deducted from your house property income paid during the year.

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