Government Extends OTS Scheme for Property Tax Defaulters Until November 30, ET RealEstate
BENGALURU: In a relief to over 2.6 lakh property tax defaulters in the city, the govt has extended the one-time settlement (OTS) scheme by two more months.
This is the second time the govt has extended the scheme. Property taxpayers can now clear their dues under the scheme till Nov 30. The govt had introduced OTS in Feb this year, and the scheme expired on July 31. Later, the govt extended it till Sept 30.
“We need to provide property tax defaulters adequate time to avail the scheme and clear dues. Hence, we have extended OTS scheme till Nov 30,” BBMP special commissioner (revenue) Munish Moudgil told TOI.
Based on a cabinet decision taken on Sept 5, the govt issued an order Wednesday, extending the deadline.
BBMP sources said earlier there was no provision for owners to revise their property tax upward. So, there was a request to give them the opportunity under the self-assessment scheme. Considering this request from multiple taxpayers, the govt decided to provide property owners the chance to revise their returns and pay dues under the extended OTS scheme.
The scheme helps defaulters get a 100% rebate on interest and 50% rebate on penalties. According to BBMP data, there are over 2.6 lakh defaulters in the city with dues amounting to more than Rs 474 crore. BBMP collected Rs 273 crore in arrears from 1.3 lakh properties until Sept 1 this financial year. The Palike attached 49,487 properties and sealed 4,586 non-residential ones until Sept 1.
