The property tax payers of Mumbai can now take a sigh of relief as Bombay High Court has asked some of the property owners through a short term order to go for the old method of tax payment and pay 25% of the discrepancy amount.An appeal filed in October by Agiaries and Religious Institutions Welfare Society, Atash Behrams which was acknowledged by the bench of Justice and Chief Justice had challenged the legality of the new property tax system which was launched this year. According to the new structure, tax is calculated with respect to the capital value of the property, years of the building, location and use, all this factors are considered. The new imperfect system can raise the taxes by 300% or even more, experts said.The exemptions for charitable institutions have been withdrawn by BMC. Bombay Hospital, a charitable organization was the first to get attacked in the court by the hike, challenging the new tax system and a bill of Rs. 2 crore for 2010-2013.According to the old system, tax was calculated on the basis of the rateable value of the structure and the likely rent which it could attract. Around 40 organizations which included the Foundation for Medical Research, Indian Hotels Co, Bombay Hospital had sent their petitions to the High Court. According to these institutions, the new tax structure is overpriced, confiscatory and undemocratic.The High Court then directed the appealers to the taxes as per the pre-amended charge and also pay 25% of the amount as the differential rate between the old and new system.займ на карту без отказов круглосуточновзять кредит онлайн