What is the procedure to pay property tax in India?

What is the procedure to pay property tax in India?

Property tax has been recognized around the globe for years, and property tax online payment has gained popularity in recent years with the onset of digitalization. In the current era, it is essential to know all about property tax and how the whole thing works, as either you are already paying it or you’ll be paying it when you purchase your dream property.

In our country, taxes such as income tax, property tax, etc., are levied by the government on their citizens to generate income for several projects in order to boost the economy and upscale the living standard of people. Moreover, due to the easy access to internet-enabled smartphones and digitization picking its pace, the government has ensured that paying property tax becomes hassle-free with digital payments.

What is Property Tax?

A property tax is a tax charged by the government on all tangible property (houses, office buildings etc.) a person owns. Like income tax, it is also to be paid every year. Further, it depends on the government’s policy whether the tax would be paid to the local state government or the Municipal Corporation (MC). 

(Note: Property tax online payment is highly recommended as it is super easy, and you can do the same from your internet-enabled smartphone.)

How to do property tax online payment?

Gone are the days when paying property tax was considered a hectic task, running from here and there. Instead, the whole procedure of online payment is relatively easy, and one can do it with a few taps on a smartphone.

  1. Download the Bajaj Finserv app on your mobile
  2. Sign up after entering your details
  3. Go to the Bills & Recharges section.
  4. At the bottom, go to Municipal Taxes.
  5. Fill in the required details & you are good to go.

Undoubtedly, smartphones in our hands have made our lives a lot easier compared to earlier times. I’m sharing my personal experience as I did the same via this application. This is not a promotional content piece, and readers are free to make their own choice. 

How is it calculated?

Before making the property tax online payment, it is essential to know on what basis it is calculated. It is calculated by the local government authorities based on the property valuation and appraisal depending on the locality in which an individual resides. Therefore, the amount varies per the locality’s type of levy, facilities available, and other factors. 

(Fact: Tenant is not liable to pay this tax, and only the owner is responsible.)

Since the evolution of technology and the Internet, doing taxes nowadays is as easy as ordering groceries. Look around you. Do you see any person without a smartphone? No, right? Then why go for traditional methods when you can easily complete certain tasks with just a few taps? Remember that this is a sensitive matter, so ensure that all the information you put out there is 100% correct.

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