TPA opposes levying property tax over capital value
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In a press meet right here on Thursday, TPA president V. Sambireddy and secretary M.V. Anajaneyulu stated that the State authorities is reportedly contemplating the Centre’s route on taxation
Tax Payers’ Association (TPA) requested the State authorities to not levy property tax based mostly on the capital value of the property as launched by the Central authorities as it could change into an enormous burden to taxpayers.
In a press meet right here on Thursday, TPA president V. Sambireddy and secretary M.V. Anajaneyulu stated that the State authorities is reportedly contemplating the Centre’s route on taxation. Also, an attraction not to take action has been made to the Minister for Municipal Administration and Urban Development Botcha Satyanarayana.
They stated the Centre urged the State authorities to impose tax as per flooring fee. This means, the native our bodies should observe go well with.
Mr. Anajaneyulu stated that property tax is levied as per the rental value of a property and with new taxation methodology, property tax based mostly on the value of the property will enhance manifold burdening the widespread man.
Also, the tax will enhance each time the registration division revises the land and property value throughout the State, he stated.
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