Levy & Recovery of taxes on property under Delhi Municipal Corporation Act, 1957

05 April 2005

Section 113 to Section 135 of Delhi Municipal Corporation Act 1957 deals with Taxation and levy of taxes on various properties.

1. Delhi Municipal Corporation (DMC) is empowered to levy property tax under section 113. Property tax is measured in the terms of the rent received or receivable form the property. As per the recent judgments of the Supreme Court the standard rent as fixed under the Delhi Rent Control Act is the only basis for levying the property taxes.
2. As per section 114 of the Act property tax can be between only 10% to 30% of the rateable value of the land and building in the urban area. (as per 2003 amendment it 6% to 30%)
3. The property tax is exempted on agricultural land and property owned by a charitable organization. There are certain further exemptions upto 30% on property tax if owned by Senior Citizen (65+yrs)

Enlarge View & Download

News & Deals

In $6 mn round of Optimized Electrotech, IJ represents some of the Investors

IJ represents 100Unicorns Cautio Seed Round

In Series A, $5 Mn Round of Evenflow, IJ represents VCats

Publications

Policies of Funds & FMEs in GIFT City

Dissecting the Order passed by CCI against Goldman Sachs (India) Alternative Investment Management Pvt. Ltd.

Patent & Trademark Guide in India

Newsletters

RBI Issues Draft Directions on Regulated Entities Investments in AIFs to Strengthen Regulatory Oversight

Competition Commission of India Notifies New Draft Regulations for Determination of Cost of Production

SEBI’s new crackdown on Dodgy Companies seeking capital raises confusion among Credit Rating Agencies