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Reading: People to file property tax, file returns by July 31: Govt
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Rising Kashmir > Blog > Top Stories > People to file property tax, file returns by July 31: Govt
Top Stories

People to file property tax, file returns by July 31: Govt

Irfan Yattoo
Last updated: June 7, 2023 1:12 am
Irfan Yattoo
Published: June 7, 2023
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Srinagar, June 06: The inhabitants of Union Territory of Jammu and Kashmir will have to pay Property Tax and file returns for the current financial year 2023-2024 before the designated authorities by July 31, 2023, officials said.
As per the notification issued by Principal Secretary to the Government, Housing and Urban Development Department, Prashant Goyal reads that property tax for the financial year 2023-24 shall be furnished in form 1 by July 31, 2023.
“In exercise of the powers conferred by section 143A of the Jammu and Kashmir Municipal Act, 2000, the government hereby directs that the following provision shall be added to rule 5 of the Jammu and Kashmir Property Tax (Other Municipalities) Rules, 2023 notified S.0 86 dated February 21, 2023.
“Provided that the particulars of the property and the tax due thereon for the financial year 2023-24 shall be furnished in Form 1 by July 31, 2023,” it said.
Another notification released by the department under S.O 297 reads that in the exercise of the powers conferred by section 71A of the Jammu and Kashmir Municipal Act, 2000, the government hereby directs that the following provision shall be added to rule 5 of the Jammu and Kashmir Property Tax (Other Municipalities) Rules, 2023 notified S.0 87 dated February 21, 2023.
“Provided that the particulars of the property and the tax due to thereon for the financial year 2023-24 shall be furnished in Form 1 by July 31, 2023,” it said.
Principal Secretary to the Government, Housing and Urban Development Department, Prashant Goyal was not available for his comments on the issue.
“I am outside my office and cannot talk about the property tax,” he said.
Another official at the department told Rising Kashmir that both Srinagar and Jammu Municipal Corporations have been direct to collect taxes from next month.
“Special software has been developed for collection of taxes and all things have been streamlined in this regard. People can submit their taxes in installments,” he said.
The official said they are in touch with all local Urban bodies including JMC and SMC. Once software will be ready, both JMC and SMC will begin their work of collection of taxes, he said.
On February 21, 2023, J&K’s Housing and Urban Development Department issued two separate notifications for levying, assessment and collection of property tax in the urban areas of Jammu and Kashmir, where 27% of the UT’s population resides as per the 2011 census figures.
The Jammu & Kashmir Property Tax (Municipal Corporation) Rules, 2023 and the Jammu & Kashmir (Other Municipalities) Rules, 2023, notified by the government, define the procedure for collection of property tax within the limits of municipal corporations, committees and councils in the UT.
As per these rules, property tax is to be 5% of the taxable annual value (TAV) on residential properties and 6% of the taxable annual value on commercial properties..

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