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Ludhiana Civic Body inspecting city malls
01 Sep 2023 CW Team
The municipal corporation (MC) has begun reviewing the property tax returns submitted by different malls in the city in an effort to identify tax cheats.
The program was started in zone-D, and on Tuesday, officials also conducted similar kind of inspection at a mall on Ferozepur Road. According to Zonal Commissioner Jasdev Singh Sekhon, MC Commissioner Sandeep Rishi gave the order to begin the inspection drive.
He explained that property taxes are assessed on a self-assessment basis, and mall tax returns are classified as rentals, for which a tax of 7.5% of the building's yearly rent is assessed.
According to Sekhon, the management of the majority of malls has been paying the tax on time in order to receive a 10% discount. To make sure that the tax is being filed in compliance with the rules, inspections are being done.
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