Telangana One Time Scheme 2023 | Property Tax Waiver Scheme | How to Apply for One Time Scheme | OTS Scheme Benefits
The Commissioner of the Greater Hyderabad Municipal Corporation (GHMC) and the Director of Municipal Administration have suggested a “One Time Scheme” (OTS). 90% of the accumulated arrears will be forgiven by the programme if the taxpayer pays the original amount and the 10% interest on the accumulated arrears in full for the fiscal year 2021–2022.
Telangana One Time Scheme – New Property Tax Programme
After considering the recommendation made by the GHMC Commissioner and Director of Municipal Administration, the government mandated the waiver of 90% of the accumulated property tax arrears interest, as stated in the GO Rt No. 485 published by the Municipal Administration & Urban Development (MA&UD) Department. But, by 2021–2022, the taxpayer would be required to pay out the full tax debt—principal plus 10% accumulated interest—in one lump sum.
With an expiration date of October 31, the One Time Scheme will be deployed in campaign mode. It is applicable to all of the urban local bodies of the state, including the GHMC. For those who have paid their whole property tax debt—including interest and penalties—up to March 2022 during the current fiscal year, a total of 90% of such interest and penalties would be subtracted from future payments.
According to the GHMC Commissioner and Director of Municipal Administration, there were Rs 1,999.24 crore worth of unpaid property taxes in all ULBs, including the GHMC. It had a balance of Rs. 1,626.83 crore in outstanding interest. The order also directs officials to establish a transparent structure for daily supervision and execution of the plan.
Telangana One Time Scheme: Benefits
The MA&UD Department has instructed the GHMC Commissioner and Director of Municipal Administration to promote the initiative and ensure that the largest number of people may benefit from it. They are expected to phone, text, and talk with property owners who owe arrears on payments, as well as advertise the programme in print and electronic media.
The OTS System has been proposed with the interest of taxpayers in mind. The plan must be carried out in mission mode and with sufficient publicity prior to October 31, 2022. The relevant municipal authorities have been asked by the Secretary to establish a mechanism for daily supervision and ensure that the One Time Scheme is carried out in an open manner.
Arrears in Telangana’s Urban local bodies now Reach 1,999.24 Crore
According to reports, the Rs 1994.24 crores in outstanding property tax arrears in all urban local bodies, including the GHMC, worried the GHMC Commissioner and Director of Municipal Administration. For those who are struggling with property tax arrears, the State government has established the One Time Scheme (OTS) and waived 90% of the interest. Waiver is good until the next fiscal year, 2021–2022.