CM Mann-led Punjab Govt Revokes Exemption for Property Tax Defaulters
Move Underscores the Importance of Adhering to Tax Obligations
MOHALI: In a Significant Development, the Punjab government has taken a decisive step concerning property tax defaulters. The Government has rescinded the previously granted exemption on settling outstanding property tax dues.
This Announcement follows a notification issued on September 4, which initially offered a discount to individuals who paid their overdue property taxes from 2013 until December 31. The discount included an 18 percent interest reduction and a 20 percent penalty waiver. However, the government has now reversed this decision before it could come into effect.
The Withdrawal of this exemption has implications for property owners who were planning to take advantage of the discount to clear their long-standing tax arrears. The government's move underscores the importance of adhering to tax obligations and fulfilling financial responsibilities within the stipulated timeframes.
Property tax plays a crucial role in supporting public services and infrastructure development. By maintaining stringent tax collection measures, the government aims to ensure the efficient functioning of essential services and promote fiscal responsibility among property owners.