Telangana OTS Scheme 2024 : Waives 90% Interest on Property Tax

telangana ots scheme 2024 for defaulting home owners एकमुश्त समाधान योजना one time settlement scheme amount for applying for ots scheme one time settlement ओटीएस योजना property tax waiver scheme తెలంగాణ వన్ టైమ్ సెటిల్మెంట్ పథకం 2023

Telangana One Time Scheme 2024

Finally, following the footsteps of the Maharashtra, Karnataka, Kerala, Bihar, and West Bengal governments. The Telangana Government has come up with a scheme to settle the disputes pertaining to the State Laws namely Telangana State One-Time Settlement Scheme. In this article, an attempt is made to understand the Telangana State One-Time Settlement Scheme.

telangana ots scheme 2024

A “One Time Scheme” has been proposed by the Director of Municipal Administration and the Commissioner of the Greater Hyderabad Municipal Corporation (GHMC) (OTS). If the taxpayer pays the original amount as well as the 10% interest on the accumulated arrears in full for the fiscal year 2021–2022, the programme will waive 90% of the accumulated arrears.

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Applicability of the Telangana One-Time Settlement Scheme

Telangana State One-Time Settlement Scheme is applicable to all registered and unregistered dealers under the Andhra Pradesh General Sales Tax Act, 1957, the Telangana Value Added Tax Act, 2005, the Central Sales Tax Act, 1956, and the Telangana Entry of the Goods into Local Areas Act, 2001.

Telangana One Time Scheme- New Property Tax Programme

In accordance with the GO Rt No. 485 published by the Municipal Administration & Urban Development (MA&UD) Department, the government has mandated the waiver of 90% of the accumulated property tax arrear interest after reviewing the proposal made by the GHMC Commissioner and Director of Municipal Administration. However, the taxpayer would have to pay out the entire amount of the tax debt—principal plus 10% accumulated interest—in one go by 2021–2022.

The One Time Scheme will be implemented in campaign mode with the scheme slated to expire on October 31. It is applicable to all urban local bodies of the State, including the GHMC. A total of 90% of such interest/penalties would be deducted from future payments for people who have paid their whole property tax debt—including interest and penalties—up to March 2022 within the current fiscal year.

The property tax arrears in all ULBs, including the GHMC, were Rs 1,999.24 crore, according to the GHMC Commissioner and Director of Municipal Administration. Its outstanding interest balance was Rs. 1,626.83 crore. The order further instructs officials to set up a system for the daily oversight and execution of the plan in a transparent manner.

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Telangana One Time Scheme Benefits

The GHMC Commissioner and Director of Municipal Administration have been given instructions by the MA&UD Department to promote the programme and make sure the greatest number of individuals may take advantage of it. They are expected to speak with property owners who have unpaid arrears, text them, call them, and promote the programme in print and electronic media.

For the benefit of taxpayers, the OTS System has been proposed. Prior to October 31, 2022, the plan must be implemented in mission mode and with enough publicity. The Secretary has requested that the involved municipal officials set up a system for daily oversight and make sure the One Time Scheme is carried out openly.

Arrears in Telangana’s Urban local bodies now Reach 1,999.24 Crore

The government has announced a one-time scheme (OTS) for clearing pending property tax arrears within Greater Hyderabad Municipal Corporation limits and all other urban local bodies across Telangana. Under the scheme, a tax payer will get a waiver of 90% on interest payment, provided that the principal amount plus 10% of interest on accumulated arrears is paid in one ago.

Telangana have reached ₹1,999.24 crore and the interest amount is to the tune of ₹1,626.83 crore at the end of the financial year 2021-22.

How will be the tax payable in Telangana State One-Time Settlement Scheme

The person has to discharge the complete undisputed tax liability. With respect to the remaining amount i.e. the disputed amount, the person has to discharge the taxes as under :

FAQ’s

• Whether the Telangana State One-Time Settlement Scheme will be applicable for both the demands and refund?

The scheme will be provided only for the demand and not for the refund cases.

• Whether any interest & penalty has to be paid under Telangana State One-Time Settlement Scheme ?

The interest and penalties are not required to be discharged. Only the tax component has to be discharged which has to be calculated as above.

• What will happen to the pending appeals & notices issued after payment of tax?

The appeal pending before the appellate authority or the Tribunal or the Court in respect of any order or notice shall be withdrawn fully and unconditionally by the applicant.

• Whether any installment facility provided under Telangana State One-Time Settlement Scheme ?

Yes for the amounts payable higher than Rs.25 lakhs, an installment facility will be provided without interest up to 4 equal monthly installments. Bank interest rates will be applied to those seeking more installments.

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