Pune Property Tax Online payment Check Exemptions Formula (Latest)

By | August 2, 2019

It is a Pune Municipal Corporate (PMC) or Pimpri Chinchwad Municipal Corporation (PCMC) {on base of location of property} that assesses property to give it a value and levy tax on a person’s real or personal property in Pune. PMC is serving its citizen since 1950 and property tax is second largest revenue to next to Octroi to PMC.

To automate entire property tax assessment process and to boost its revenue, PMC in September 2016 started carrying out geo-tagging of properties in its jurisdiction along with identifying unauthorized and illegal properties by using Geographic Information System (GIS). Exercise includes verifying existing size of property, mentioning information of owner of property, clicking photographs of properties and their documents, etc. PMC covers more than 8 lakh properties in its purview

Property tax applies to all properties and vacant lands within Municipal corporation limits. Property tax is assessed based on carpet area of building/property. PMC follows capital value-based system for property tax calculation

Formula for Pune property tax computation:

Property tax is percentage of actual value of property which is based on ready reckoner that is used to calculate stamp duty by revenue department.

Property tax = Tax rate* Capital Value

Capital Value = Base Value * built-up area * usage * building type * age factor * floor factor

PMC allows a user to calculate property tax online tax entering locality, area, usage, type, total, plinth area and age of property.

Due date, penalty, and other rewards

PMC

Due date – for first half-year (April 1st to September 30th) due date is 31st May and For second half-year (October 1st to March 31st) due date is 31st December

penalty is charged at 2% per month in case of delay in payment beyond due date i.e., charged from 1st July in case of first half-year and from 1st January in case of second-half year

If entire property tax is paid by 31st May, following rebates are available:

For residential properties/ non-residential/open plot specifically registered as residential building – 10% discount on general tax in case of annual ratable value up to Rs 25,000 and 5% discount on general tax in case of annual ratable value of Rs 25,001 and above

In case of residential properties having solar, vermiculture and rain-water harvesting – 5% discount on municipal tax (excluding water tax and government taxes) in case of one of these projects and 10% discount on municipal tax (excluding water tax and government taxes) in case of two of these projects

PCMC

10% concession on general tax if entire property tax is paid by June 30

Steps for payment of Pune property tax

Online Payment

PMC

Visit PMC website

Click on ‘pay online’ or ‘NEFT/RTGS payment’ as per your choice

Enter property details and click on ‘submit’

Verify property owner details and also property tax dues that are displayed

Enter amount you wished to pay, verify mobile number and email id and select gateway of payment such as internet banking, debit/credit card as per your choice and make payment. Payment by way of debit/credit card may incur additional charges

PCMC

As already mentioned, based on locality your property might be falling under Pimpri Chinchwad Municipal Corporation (PCMC) in Pune.

Any grievances relating to online payment or assessment of property tax can be sent to propertytax@punecorporation.org

Offline payment

Property tax offline is accepted in cash/ cheque/demand draft. cheque/demand draft should be drawn in favor of ‘Assessor and Collector of Tax, P.M.C Pune’.  Property tax can be paid at any of 30 ward offices of PMC or Citizen’s facilitation centers run by PMC or at authorized bank branches such as Cosmos, HDFC, ICICI or Bank of Maharashtra or self-pay tax payment kiosks.

Exemption/Concession from payment of property tax

Properties used for worship, public or religious purposes and registered with charity commissioner as charitable institutes/trust are exempt from purview of property tax in PMC. PCMC gives 50% concession on general tax of properties owned by ex-servicemen/freedom fighters/their wives, women and 40% rebate in case of properties registered in name of persons with more than 40% disability

Income Tax Implication

Remember to claim municipal taxes paid during year as a deduction from your house property income.

Category: Tax

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