East, North MCDs witness jump in revenue

The cash-strapped East MCD has registered threefold increase in property tax revenue from November 11 to 18 in the post demonetisation period. Similarly, North MCD has witnessed huge jump in revenue in all its categories from parking to property taxes.

“We have received Rs 7 crore as property tax and conversion charges from November 11 to 18 which was only Rs 2.6 crore in the same period in 2015,” said Satya Sharma, Mayor of East Delhi. The Corporation has credited the hike to old notes as they are allowed to accept banned notes for civic taxes. “The tax defaulters are coming voluntarily to deposit their taxes,” she added. 

North MCD Mayor Sanjeev Nayyar informed that the Corporation received a good response in collection of its due charges and taxes in old denominations of Rs 500 and Rs 1,000. According to the details provided by North MCD,   it received Rs 6.79 crore as property tax, Rs.6.50 crore as conversion charges and Rs 2 crore as parking license fees settlement; thus totaling to Rs 15.29 crore for the above period. The BJP-ruled MCDs have also announced amnesty scheme for Property Tax defaulters by waiving off full penalty till February 28.