Tag: One Time Settlement Scheme

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Punjab Extends Taxpayer One-Time Settlement to May 31

CHANDIGARH: The Punjab government announced on Saturday a two-month extension for the One Time Settlement (OTS) scheme aimed at recovering outstanding dues, now extended to May 31, 2026, from the original March 31, 2026 deadline, according to finance minister Harpal Singh Cheema. Cheema mentioned that the taxation department has received 9,151 applications so far, resulting in a total revenue collection of ₹134.21 crore. The state government has already granted waivers amounting to ₹446.17 crore. “This extension offers a final chance for eligible taxpayers to settle their dues and achieve financial relief. The taxation department has also identified 8,000 properties belonging…

Latest StoriesRegulatory

1.6 Lakh Notices Sent to Telangana Property Tax Defaulters

Representative AI image HYDERABAD: Civic authorities in the Core Urban Region (CURE) are stepping up efforts to collect overdue property taxes as the fiscal year 2025–26 approaches its end, sending numerous notices to defaulters. In the past 15 days, the Greater Hyderabad Municipal Corporation (GHMC), the Cyberabad Municipal Corporation (CMC), and the Malkajgiri Municipal Corporation (MMC) have issued approximately 164,000 demand notices to property owners who have not settled their dues. Out of nearly 2.88 million property tax assessments in the city, around 40% remain unpaid for the current financial year. Additionally, the total outstanding amount is alarming. While the…

Latest StoriesResidential

Prayagraj to Offer House Tax Rebates for Old Buildings

PRAYAGRAJ: The Prayagraj Municipal Corporation (PMC) has approved a 40% house tax rebate for buildings older than 20 years within the urban limits. The decision, made unanimously during a meeting on Tuesday, ensures property owners will automatically qualify for the rebate without any application process. This measure is set to take effect in April 2026. This initiative is expected to aid residents in older neighborhoods such as Kidganj, Daraganj, Rambagh, Bairhana, Chowk, Shahganj, Kareli, Malviya Nagar, Mundera, and Chakia, which contain numerous buildings over two decades old. Additionally, the house authorized a One-Time Settlement (OTS) proposal for significant house tax…

Latest StoriesResidential

Uttar Pradesh Introduces OTS Scheme for Property Defaulters

LUCKNOW: The housing development authorities in Uttar Pradesh are set to introduce a one-time settlement scheme aimed at allowing defaulters the opportunity to settle their debts. The cabinet has given the green light for this scheme, which is designed to stimulate the real estate market and recover overdue payments from buyers who owe money to organizations such as the Lucknow Development Authority and Kanpur Development Authority. This scheme will be applicable for settling debts that have accrued from the purchase of various types of properties, including residential, commercial, mixed-use, and institutional sectors. Currently, there are 18,982 pending default cases with…

Latest StoriesResidential

No OTS Extension: 7,200 Plot Allottees Face Recovery by March 2026

NOIDA: The Yamuna Expressway Industrial Development Authority (YEIDA) has declined to extend the deadline for its one-time settlement (OTS) scheme. As a result, approximately 7,200 plot allottees who defaulted are at risk of recovery actions unless they settle their dues by February 28. This decision was made during YEIDA’s 88th board meeting on Friday, presided over by Chairman Alok Kumar, who is also the additional chief secretary for industrial development. Officials noted that YEIDA has previously conducted the OTS scheme seven times, and the latest opportunity, which commenced on December 1, is the final one. Of the total outstanding dues…

Latest StoriesRegulatory

Patna resolves 671 property tax and waste charge issues in a month

PATNA: The Patna Municipal Corporation (PMC) has addressed 671 complaints regarding property tax and solid waste charges out of 1,782 grievances reported within the past month, showcasing a significant advancement in citizen-focused governance. Officials report that the civic body is prioritizing expedited resolution through its enhanced grievance redressal system. On Monday, Municipal Commissioner Yashpal Meena stated, “We are promptly managing complaints to ensure timely relief for residents. The remaining cases, mostly directed to zonal offices, are actively being processed, with regular reviews conducted by relevant officers for prompt resolution.” The commissioner has issued stern directives to executive officers across all…