Punekers who registered their properties from 2019 onwards will need to furnish proof of self-occupancy if they want to avail the 40% tax concession in the dreaded property tax.
What is the announcement?
In a message to all residential property owners (especially the ones who registered their properties from April 1, 2019, the Pune Municipal Corporation (PMC) urged everyone to submit a proof of self-occupancy in the property if they want the 40% property tax concession.
Who is it for?
The 40% tax concession is for registered residential property owners who live in their property and do not use it for rental purposes. All homeowners know that property tax can be really high every year and the 40% concession is very useful. The new rule is for properties registered from April 1, 2019 onwards.
What needs to be submitted?
All property owners seeking a property tax concession need to visit their nearest ward office/tax inspector, submit a duly filled PT-3 form, and attach the proof of self-occupancy.
What is the proof of self-occupancy?
self-occupancy can be proven upon submitting an NOC from the housing society. A voter’s ID card, passport, driving licence, LPG card or ration card can be submitted as proof of identity. If the owner owns other properties in Pune (regardless of their registration date), bills for those properties will also need to be submitted.
What are the fees?
A fee of 25 rupees needs to be paid while submitting the PT-3 form and the proof of self-occupancy.
When is the last date for submitting the proof?
Property owners seeking a 40% tax concession need to submit the duly filled application form and a proof of self-occupancy to their nearest ward office/tax inspector by November 15th, 2023. After the fees are paid, PT-3 and the proof of self-occupancy are submitted, the property tax inspector will verify the property and decide if it’s eligible for the tax concession.
What happens if the documents are not submitted on time?
If the proof of self-occupancy isn’t submitted by November 15th, 2023, the property owner will need to pay the entire tax amount without any concession or discount.