5% rebate on tax for early birds

Hyderabad: The “early bird tax rebate scheme” is being implemented in the city from the current financial year. Five per cent discount will be given on property tax if people pay their total tax, along with arrears, before April 30. The rebate is only on current year’s tax and not on the arrears.

Describing it as an “early birds tax rebate scheme,” GHMC commissioner Somesh Kumar said people should not wait for the tax notice to be served on them, but pay the taxes in advance. Tax discount of five per cent will not be given if the tax is paid for half the year or in installments or paid after April 30.

The GHMC hopes to raise Rs 250 crore through the early birds scheme. It may be mentioned here that over the last two years, the GHMC had been announcing the early bird scheme, but the discount was not given to the tax payers as the government had not issued the relevant orders for its implementation. This time, however, the GHMC Act has been amended and even a GO has been issued.

In the previous financial year, over 90,000 tax payers paid nearly Rs 25 crore before April 30, but they did not get the 5 per cent discount.

Mr Somesh Kumar said this time, 5 per cent discount will be extended to  early tax payers because all relevant amendments have been made.