SAMRIDDHI 2022-23
Source : The Hindiu
GS III : Economics
What is discussed under SAMRIDDHI 2022-23?
- About SAMRIDDHI 2022-23
Why in News ?
The Lieutenant-Governor of Delhi has offered a one-time property tax amnesty for inhabitants of the national capital’s authorised and regularised colonies.
Key Facts
- People would be allowed to pay just the principal amount of the existing and pending tax on residential properties under SAMRIDDHI
Photo by Tierra Mallorca on Unsplash 2022-23 (Strengthening and Augmentation of Municipal Revenue for Infrastructure Development in Delhi).
- They can get a waiver of all outstanding debts, including penalties and interest.
- In the case of commercial premises, the term will be six years +
- After one year, the Municipal Corporation of Delhi would have no authority to revisit any property tax matter.
- Residential property taxpayers must pay the current year’s principal amount of property tax as well as the previous five years in order to earn a 100% exemption from interest and penalties on the outstanding tax amount as well as a waiver of all former dues prior to the previous five years.
- Non-residential taxpayers must pay the main amount of property tax for the current year and the preceding six years in order to earn a 100% exemption from interest and penalties on the outstanding tax amount, as well as a waiver of any former dues prior to the previous six years.
- If a taxpayer fails to pay his tax bill by the deadline, he will be accountable for paying all back taxes, interest, and penalties dating back to 2004 or the previous year they were underpaid, with no right to a waiver.
- According to the release, the tax amnesty system includes a “One Plus Five” option.
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