Home Finance News RBI report flags massive -scale variation in property tax assortment throughout India

RBI report flags massive -scale variation in property tax assortment throughout India

New Delhi: It could look stunning however it’s a undeniable fact that the property tax income of the municipal our bodies in Delhi is far more than that of larger states together with Uttar Pradesh, Madhya Pradesh, Rajasthan and plenty of different states.

There’s a large-scale variation in property tax income of municipal our bodies of various states. As an example, municipal our bodies in Delhi and Gujarat recorded the property tax income receipts of Rs 2,940 crore and Rs 1,548.69 crore respectively throughout 2019-20. However, the property tax income of Uttar Pradesh and Rajasthan was Rs 936.77 crore and Rs 343.98 crore respectively throughout the identical 12 months.

A modern report by the RBI on the monetary situation of municipal our bodies within the nation has disclosed that municipal our bodies in states like Delhi, Gujarat, Maharashtra, Chandigarh, and Chhattisgarh acquire increased taxes relative to different states.

The report has famous that the gathering system is marred by challenges of pending litigation and insufficient staffing in municipal our bodies and there’s a want for large-scale reform of property taxation practices in India.

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