Nashik Residents Embrace Tax Discount Scheme, Contribute ₹64 Crore In April

Nashik Residents Embrace Tax Discount Scheme, Contribute ₹64 Crore In April

The scheme offers a special exemption to property owners who opt to pay taxes from April to June each year

Prashant NikaleUpdated: Saturday, May 04, 2024, 05:44 PM IST
article-image
Nashik Municipal Corporation (NMC) | File Image

Nashik residents have embraced the municipal tax discount scheme, with around 57,000 citizens contributing ₹64 crore in April alone.

The scheme offers a special exemption to property owners who opt to pay taxes from April to June each year. Those who settle their property tax in April receive an 8% discount on the total bill amount, while online payments enjoy a direct 10% discount. In May, a 5% discount is offered, followed by a 3% discount in June.

This year, the municipal commissioner has set a 10% higher property tax collection target compared to the previous year's record-breaking collection of ₹206 crore. The discount scheme is an annual initiative aimed at incentivising regular taxpayers. Tax revenue from property owners constitutes the primary income source for the NMC, funding numerous development projects across the city.

Among the divisions, Nashik West Division has contributed the highest tax amount of ₹14.64 crore. Last year witnessed a positive response, with a total collection of ₹65 crore in the first three months, and this year's scheme is following suit.

"The administration urges the people of Nashik to take advantage of the tax relief scheme. Residents are encouraged to benefit from the concession scheme by paying taxes and cooperating with the municipal corporation in May and June as well," stated Vivek Bhadane, Deputy Commissioner, Tax Department, NMC.

RECENT STORIES

Nashik Crime: Mhasrul Sees Second Murder in 15 Days; Crime Branch Nabs Thieves

Nashik Crime: Mhasrul Sees Second Murder in 15 Days; Crime Branch Nabs Thieves

With 7 MPs From Pune District In Parliament, Citizens Demand Sustainable Development

With 7 MPs From Pune District In Parliament, Citizens Demand Sustainable Development

Nashik Faces Water Crisis as Pipeline Leak Halts Supply Indefinitely

Nashik Faces Water Crisis as Pipeline Leak Halts Supply Indefinitely

Selfie, Biometric Attendance for Nashik Municipal Teachers

Selfie, Biometric Attendance for Nashik Municipal Teachers

Nashik: Controversial 'Om Certificates' Initiative by Ranjit Savarkar's Om Pratishthan Sparks Debate...

Nashik: Controversial 'Om Certificates' Initiative by Ranjit Savarkar's Om Pratishthan Sparks Debate...