The municipal corporation in Chandigarh, India has received Rs 42.47 crore in property taxes in just two months, as the rebate period came to an end this week. The majority of the revenue came from Panjab University and the UT administration, with the PGI hospitals also contributing to the fund. Out of 1.42 lakh taxpayers in the region, 64,000 of those who own residential properties and 16,000 in commercial properties have paid their taxes. As a result, defaulters will be charged a 25% penalty and 12% interest on their debts, and could potentially face action such as property sealing if their debts are left unpaid. The municipal corporation offered a 20% rebate for residential properties and 10% for commercial properties.
Chandigarh Civic Body Receives 42 Crores Property Tax in Two Months as Rebate Ends.
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