HYDERABAD: The Secunderabad Cantonment Board (SCB) has introduced a one-time settlement (OTS) plan for property tax arrears. This initiative aims to alleviate the financial burden on property owners by providing concessions on the interest accrued from outstanding tax dues. The plan applies to arrears accumulated until March 31 and aligns with the Cantonments Act, 2006.
Under the OTS plan, property owners may receive a 30% discount on their accumulated interest or a maximum of ₹10,000, whichever is greater. If the total interest is less than ₹10,000, owners can benefit from a full waiver of that interest. It’s important to note that this concession only applies to the interest component and does not extend to the principal tax amount.
To qualify for the interest rebate, property owners must fully settle their outstanding property tax dues, including any arrears. Partial payments, especially those applied solely to interest, will not be considered for the discount. The OTS plan will be valid until March 31, giving taxpayers a specific timeframe to take advantage of these benefits.
SCB’s CEO Arvind Dwivedi mentioned that the scheme is intended to encourage the voluntary resolution of overdue tax obligations, reduce long-term arrears, and provide a chance for property owners to regularize their tax status. Settling dues during this period will help taxpayers avoid further interest accumulation and legal recovery actions.
The Cantonment Board has urged property owners with outstanding tax dues to utilize the scheme within the specified timeframe.
