Government of J&k Delays Property Tax Imposition Ahead of Urban Local Bodies Elections

Government of J&k Delays Property Tax Imposition Ahead of Urban Local Bodies Elections

Asif Iqbal | October 6, 2023 | 03:13 PM IST | Breaking News, Jammu Kashmir | Follow on Google News

Government of J&k Delays Property Tax Imposition Ahead of Urban Local Bodies Elections

In a strategic move aligned with the impending Urban Local Bodies elections in the Union Territory, the Government of Jammu and Kashmir has opted to postpone the enforcement of Property Tax. This significant decision has been officially communicated through two recent notifications issued by the Housing and Urban Development Department.

Legislative Authority at Play

Under the purview of Section 71-A of the Jammu and Kashmir Municipal Act, 2000, and Section 143-A of the Jammu and Kashmir Municipal Corporation Act, 2000, the Government has exercised its authority. It has directed the replacement of the specific date, “September 30, 2023,” with the flexible phrase, “such date as the Government may notify,” as articulated in notifications SOs 505 and 506, respectively.

This substitution effectively places a hold on Property Tax collection until further notice.

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Election Timeline Consideration

The rationale behind this decision is clear – the forthcoming Urban Local Bodies elections. The tenure of the Srinagar Municipal Corporation (SMC) is scheduled to conclude on November 5, followed by the conclusion of the Jammu Municipal Corporation (JMC) on November 14. Other Municipal bodies, including Councils and Committees, across the Union Territory will reach their term end between October and November. The term of these Urban Local Bodies is reckoned from their inaugural meeting.

Introduction of Property Tax Rules

The groundwork for Property Tax regulations was laid down through two separate notifications issued on February 21, 2023. These regulations, known as the Jammu and Kashmir Property Tax (Municipal Corporation and Other Municipalities) Rules, 2023, were instituted in accordance with Section 143A of the Jammu and Kashmir Municipal Corporation Act, 2000, and Section 71-A of the Jammu and Kashmir Municipal Act, 2000. Their primary objective is to establish the framework for the assessment and collection of Property Tax within Municipal Corporations, Municipalities, and Municipal Councils in the Union Territory.

Amendments to Property Tax Deadlines

Rule 5 of these regulations mandates that individuals liable for Property Tax must furnish property details and corresponding tax amounts using Form-1 by May 30 of the relevant financial year. This submission should be accompanied by payment evidence in Form-2, along with acknowledgment of return filing in Form-3. Rule 5 further stipulates that, in cases of two-installment payments, a copy of the acknowledgment, coupled with proof of the second installment payment, must be submitted by November 30.

Notably, the Housing and Urban Development Department has extended the deadline for Property Tax payment and return filing for the current fiscal year through multiple amendments to Rule 5. The latest of these amendments, made on August 30, 2023, pushes the deadline to September 30, 2023.The decision to suspend Property Tax imposition until further notice, marked by the replacement of the specific date, paves the way for discussions and deliberations with the newly formed Municipal Corporations, Municipal Councils, and Municipal Committees. These discussions are expected to center around the essential role Property Tax plays in securing financial assistance from the Government of India, further underscoring its significance in the Union Territory’s fiscal landscape.

Asif Iqbal

Asif Iqbal is a seasoned news writer with a passion for delivering the latest updates to the public. Currently serving as the senior writer at VoM News, a prominent news outlet known for its comprehensive coverage of diverse topics, Asif has established himself as a reliable source of information. With a keen eye for detail and a knack for storytelling, he consistently provides readers with well-crafted articles that cover a wide range of news categories. His dedication to journalistic integrity and his commitment to staying ahead of the news curve make him an invaluable asset to Vom News, ensuring that readers are always well-informed on the issues that matter most. You can find his work and stay updated on current events by visiting vomnews.in.