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Property Tax for Pagdi building
28-Jun-2023 (In Property Law)
Hello
I am staying in a Pagdi building in Mumbai since 40 years. From last few years my landlord is demanding property tax from the tenants. Is property tax applicable to Pagdi building? if yes does this need to be paid by tenant or landlord? Where can I find out how much I am liable to pay?
If you are a rent-paying tenant with a lease of less than 20 years, you are not liable for Local Property Tax (LPT) on that property.
If you are a rent-paying tenant with a lease of greater than 20 years, you are liable for LPT on that property.
If you are renting from your local authority, the local authority is liable to pay the LPT on the property.
If you are a tenant with a lease of less than 20 years, and Revenue has linked you to a property for LPT purposes, you should notify Revenue and provide the name and address of the landlord.
If you do not have the details of the landlord, you should provide details of the person to whom you pay rent.
If you are a rent-paying tenant with a lease of greater than 20 years, you are liable for LPT on that property.
If you are renting from your local authority, the local authority is liable to pay the LPT on the property.
If you are a tenant with a lease of less than 20 years, and Revenue has linked you to a property for LPT purposes, you should notify Revenue and provide the name and address of the landlord.
If you do not have the details of the landlord, you should provide details of the person to whom you pay rent.
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Adv. Chinnmay S. Shah
Mumbai | 200+ Answers
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What is the penalty for not paying property tax in India?
The amount due will be subject to a penalty interest. Rates vary depending on the authority. MCD, for example, charges 1% per month on the outstanding amount, while Bruhat Bengaluru Mahanagara Palike applies 2% penal interest per month. 26-Feb-2020
Can property tax be deducted from income tax?
The Indian Income Tax Act 1961, Section 23, deals with the calculation for total income tax purposes of the annual rental income. The section states that any taxes levied on the property by local authorities can be deducted.
Who should pay property tax tenant or owner in India?
The property tax is payable by the owner only. If you are a renter, then you do not need to worry about this. The property tax receipt is crucial in proving ownership of property during a dispute. 18-Apr-2023
What happens if you don't pay property tax in Mumbai?
Mumbai: Owners of property who do not pay their property tax after December 31 will be penalized up to 2%. The penalty will be imposed in accordance with Section 202 of the Mumbai Municipal Corporation Act 1888. A monthly penalty is levied for the outstanding amount. 26-Dec-2022
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