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20 February, 2009

Own house in UT? Get ready to pay tax

The Times of India
CHANDIGARH: The contentious issue of imposing property tax on residential accommodation as well has been brought alive by the Third Finance Commission recommendations. Sources said the proposal has been accepted in principle and put up for implementation by the finance department, along with other suggestions. ...
   ... The first commission had mentioned that apart from raising revenue, the scope for resource augmentation through non-tax sources, such as revision of water charges, needed to be explored. Taking exception to the move, BJP leader Satya Pal Jain said his party will oppose it tooth and nail and the Centre should clarify its stand on the issue. Echoing his view, Chandigarh Citizens? Council chairman MPS Chawla said the tax on residential property makes no sense in a city like Chandigarh, where the MC is already budget surplus. ...