New property tax segment for businessmen
Oct 31, 2013
Source : The Times of India

 

 

GURGAON: Property tax calculations for commercial and industrial establishments such as hospitals, marriage and cinema halls, banks, restaurants and godowns are about to change with the MCG creating a special category for them.

Officials of the tax department say this new category will help such businesses rationalize their taxes.

"There are four main categories mentioned in the new tax notifications - domestic, commercial, industrial and institutional. The property tax for a hospital will be calculated on the basis of beds in it. And likewise if the cinema halls are located in the malls, their tax will be different from that are not in the malls. We will meet the owners of this special category and explain to them the new policy and clarify their doubts if any," said a tax department official.

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