The Greater Hyderabad Municipal Corporation has set the process in motion to collect a whopping Rs 1,200 crore from building owners and citizens in the current financial year. This will be done by improving tax collection, revising the lease and rental amounts of its property, bring unassessed property under tax net and ensure maximum collection of tax from under-assessed property and other sources. The GHMC commissioner, Mr S.P. Singh, said the corporation has fixed the targets for each of the sections. He added that the revenue will be increased substantially without effecting any hike in the existing tax structure.
The GHMC chief wants to collect Rs 750 crore towards property tax . A large number of new residential buildings have come up in the corporation limits which can earn more revenue for the corporation. "The GHMC can take up better infrastructure facilities for the convenience of citizens with increased revenue," Mr Singh said. Officials have been asked to form special teams and identify top tax defaulters and find the tax evaders.
As the main revenue of the corporation is from the property tax, the additional commissioner (finance), Mr Ramesh Babu, said there were 10.46 lakh tax payers in March 2008 which increased to 10.83 lakh in August 2008. In the previous financial year, Rs 322 crore was collected under property tax. Collection of advertisement tax, revenue on rents and leases on corporation estates and real estate property, entertainment and building permission fee and trade licenses should touch at least Rs 30 crore during the current financial year against Rs 6.62 crore in the last fiscal. "There is every possibility for a substantial increase in the advertisement revenue," the GHMC commissioner said. He added that the corporation had fixed a target of Rs 70 crore against Rs 14.58 crore collected last year. The corporation also plans to collect Rs 250 crore for building permission fee compared to Rs 118 crore collected last year. Besides, the GHMA plans to raise Rs 50 crore from trade licenses against Rs 9.89 crore collected last year.
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