in

Drop In Income During Covid Hits Lmc Tax Collection Target, Real Estate News, Realty Beat

Drop In Income During Covid Hits Lmc Tax Collection Target, Real Estate News, ET RealEstate
LUCKNOW: The effects of the drop in income of citizens during the pandemic have now started to show impact on the property tax collection target of Lucknow Municipal Corporation.

According to LMC officials, against the target of Rs 34 crore property tax collection set for the three-month period from September to November, the municipal corporation has only managed to collect around Rs 5 crore so far.

The civic body, in a recently conducted survey, had also found that none of the eight zonal tax inspectors in the city have been able to achieve even 20% of their property tax collection target.

Property tax collection is LMC’s main source of revenue and major contributor for corporators’ local area development fund which is used for providing various facilities at the ward level.

TOI spoke to some property tax defaulters. Many among them said that they were not able to pay tax because of a drop in income due to the pandemic.

“I have not paid my house tax this year and it is very likely that I won’t be able to pay it by March as well. I was sacked by my firm last year in July and since then my wife and I are meeting ends by giving tuition. I will pay dues as soon as our financial condition improves,” said Shubham Shukla resident of Indiranagar Sec-8. Not only housing unit owners, but some small scale commercial establishments are also tax defaulters.

Additional municipal commissioner Pankaj Singh said tax inspectors have been asked to increase collection from those who can pay and a compassionate policy has been adopted for those who have financial difficulties.


What do you think?

Presented by Realty Beat

Macrotech Developers forms 11 JVs since April 2021 to develop projects worth Rs 14,500 crore, Real Estate News, ET RealEstate

Macrotech Developers forms 11 JVs since April 2021 to develop projects worth Rs 14,500 crore, Real Estate News, Realty Beat

Shimao Group seeks ABS extensions; shares, bonds sell off, Real Estate News, ET RealEstate

Shimao Group seeks ABS extensions; shares, bonds sell off, Real Estate News, Realty Beat