Hyderabad: The decision of the Greater Hyderabad Municipal Corporation (GHMC) have shocked the political people as the civic body’s standing committee has decided to massively waive the property tax on residential properties by Rs. 4,000 per annum.According to the sources, if the waiver gets approved by the government, then out of the 13.5 lakh property tax payers, 8 lakh will not pay the property tax which means the municipal corporation will bear the loss of around Rs. 150 crore of revenue per annum.The standing committee was positive about getting approval from the state government as it would be favorable for the lower middle class, middle class homebuyers and deprived section of Greater Hyderabad zone.According to the chairman of the standing committee, tax waiver will be valid only for residential properties of the present year (2014-15) excluding the arrears. The decision was made with respect to the interest of the citizens.The standing committee has asked the commissioner of the municipal corporation to create the proposal for the waiver plan and present it in the general council meeting for another decision before it is sent to the state government for its approval.The members of the standing committee suggested that the load of Rs. 150 crore waiver can be acquired by taking into account the illegal and unassessed properties under the tax net. According to a regular survey conducted by the GHMC, it has identified around 5 to 6 lakhs properties which are yet not assessed for property taxes. The survey also suggested that few commercial properties are paying less tax and their tax amount has to be revised.займ на карту без отказов круглосуточновзять кредит онлайн