The News Craving
Srinagar, Oct 6:
The Jammu and Kashmir government has delayed the imposition of Property Tax until further notice.
The decision is reflected in two recent notifications issued by the Housing and Urban Development Department. In these notifications, the Government has replaced the specific date of “September 30, 2023” with the phrase “such date as the Government may notify.”
Under the authority granted by Section 71-A of the Jammu and Kashmir Municipal Act, 2000, and Section 143-A of the Jammu and Kashmir Municipal Corporation Act, 2000, the Government has directed that, in accordance with Rule 5 of the Jammu and Kashmir Property Tax (Municipal Corporation and Other Municipalities) Rules, 2023, the specified date of “September 30, 2023” should be replaced with the phrase “such date as the Government may notify,” as stated in notifications SOs 505 and 506, respectively.
The tenure of all ULBs in Jammu and Kashmir is set to expire between October and November.
The Jammu and Kashmir Property Tax (Municipal Corporation and Other Municipalities) Rules, 2023, were officially announced in February 2023. These rules were established to impose, assess, and collect Property Tax within the Municipal Corporations, Municipalities, and Municipal Councils of the Union Territory.
Under these rules, individuals subject to Property Tax were required to provide property details and the corresponding tax amount in Form-1 by May 30 of the relevant financial year. This must be accompanied by payment proof in Form-2, with acknowledgment of the return filing in Form-3.
The rules also stated that, in cases of two-installment payments, a copy of the acknowledgment, along with proof of the second instalment payment, must be submitted by November 30.
However, the Housing and Urban Development Department subsequently extended the deadline for Property Tax payment and return filing for the current financial year through amendments to Rule 5. The most recent amendment to the proviso was made on August 30, 2023, extending the deadline until September 30, 2023.
With the Government now suspending the imposition of Property Tax until further notice, it is unclear when the new tax regime will come into effect. However, it is likely that the Government will engage in discussions with the new ULB representatives to finalize the Property Tax policy.
