Saturday, August 22, 2020
Top 10 areas in Bangalore for commercial property investment
Saturday, August 8, 2020
How do I pay my BBMP property tax 2020-21 online?
What is a Property Tax?
Property Tax is a one of the important taxes that is imposed on the ownership of the property which should be paid annually to the local government. The Property Tax is imposed on all the properties of the real estate where the improvements are made to the land such as construction or when there are changes made to the property on the land.
You can choose to pay the Property Tax Online since most of the places are under lockdown due to the pandemic caused by the Novel Coronavirus and exposing yourself outside will bring many uninvited issues.
Why do you pay Property Tax?
In contrast to the income tax, the Property Tax is subjected to the respective state governments.
The tax you are paying will be used by the government for developing and enhancing the amenities that are provided to the public like bus stops, roads, schools, maintenance of the public areas and properties, parks, etc.,
If you utilize Online Tax Payment, you don’t have to take the pressure of going outside to pay your taxes.
Benefits you get from Paying Taxes on time:
There are options in Paying your Property Tax, you can either choose to pay your Property Taxes on a half-yearly basis or annual basis. However, if you are paying your taxes on time, you get to enjoy the benefits that are stated below,
1. You will be free from the penalty for paying late
If you are paying your Property Tax late, you should pay it along with the penalty. The penalty that is to be imposed will be 5 - 20% of the total due which is quite a handful of money and it could be worse if you own a much larger property or of that sort. Instead of paying late, why don’t you try paying the Property Tax Online?
2. You will be entitled to the Early Bird Benefits
Paying early has its own benefits. The government has announced its early bird scheme to encourage the owners to pay the tax on time. All state governments have various schemes like You can expect up to 10% concession if you pay your taxes early. You can use the Online Tax Payment platform to pay your property taxes while being at home.
3. You can avail Income tax benefits
If you have purchased a property, you can get income tax benefits under Income Tax Acts.
For instance, if you have purchased a property, you can claim deductions under the section 80C of Income Tax Act. Therefore, if there are any expenses in regards to stamp duty or any other registration charges can get compensated. You will need a No Objection Certificate (NOC) from the Municipal Corporation to register the property in your name, if you miss out paying property taxes on time, you will lose this Income Tax benefit.
4. Help the government with a step for improvement
The tax you pay helps the government in enhancing the public places and make it a better place. In short, by paying the taxes on time, you help the government to function actively.
The Online Tax Payment system is enabled by the government to save you the time. You need not go down there to the office to pay your taxes. Why go down to the office when you can do it in less than a minute from your home?
How do you pay BBMP Property Tax Online?
You can easily pay taxes online by using a SAS application number. After submitting the application number, the taxpayers can pay property tax online with their credit card/debit card or you can even make use of internet banking to pay property tax Online.
The property number is considered very important since it is needed to begin the payment process.
Pay your BBMP property Tax online using the following steps,
1) Go to the official BBMP website for Property Tax
2) Type your SAS Application Number and click on the tab ‘Fetch’.
3) After the SAS Application Number is confirmed valid, the name of the owner of the property is displayed on the screen for confirmation. Click ‘Confirm’ once the name of the owner is displayed on the screen.
4) The details of your property will be displayed on the next tab
5) If all the details about the website are correct, click ‘Proceed’. You will be directed to the V-form of the website, check for the particulars, and click ‘Proceed to Next Step’. Here, you will be able to see the calculation of tax for the property based on the details you provided.
6) Click Proceed after confirming the details and this will direct you to the form IV of the Property Tax. Just make sure the details and the information so provided are correct.
7) You can proceed and pay the tax now.
8) You can make Online Tax Payment using credit cards or debits cards or through net banking.
9) Once the payment is done, a receipt will be generated to acknowledge the Online Property Tax Payment.
If you face any issues in filling the form out, you can approach BBMP. the details are provided on the website itself.
The BBMP Property Tax for the year 2020 - 2021 should be made online to ensure safety. The pandemic has caused enough damages already and we should step up and be the responsible citizens of our country. The Online Tax Payment won’t take so much time out of your day, the process is also very simple that you yourself can pay the Property Tax online. Also, if you pay before April 30th, you can avail a discount of 5%.
CLOSING NOTES:
BBMP Property Tax 2020-20201 can be paid online and the procedure to pay the BBMP Property Tax Online is explained Step-by-Step for your understanding. Please make the payments on time or you will have to suffer when you have to pay the dues along with the penalty and it will take so much money out from your savings. Stay Home, Stay Safe & Pay Online.
Tuesday, July 28, 2020
Top 10 Frequently asked questions before buying a property in Bangalore
The Property Market in Bangalore is still stable in comparison to the property markets in other big cities across India such as Mumbai, Chennai, etc., these cities are the places where the prices have hiked over time and find no place for an economical budget to buy a property.
The Online Property Management Companies are said to have an array of properties with different budgets and that makes it possible for everyone to buy a property they love under an impressive price.
You can find great value for the residential as well as commercial properties in Bangalore. As a buyer, you must have different reasons to buy a property like, it could be for investments or you think it’s an ideal home for you to live or for business or anything for that matter.Some of the best places to buy a property in Bangalore:
If it’s an apartment, ask how many units have been sold?
Are the materials used to build the property of good quality?
Does the location have all the essential amenities nearby?
What would be the payment plan?
If they are a reputed builder, what are their projects in the past?
Is the property free from ligation?
Can I see the occupancy and the completion certificate?
CLOSING NOTES:
Thursday, July 16, 2020
Does it make any Sense to sell a Property in these times?
- Potential Audience is easy to spot
- No more competition
- Virtual tours
- Can avail the best deal
- Low-interest rates
- Do not overprice
- Enable access to the virtual tours of the property
- Assess the customer
- Conduct Property Inspections
- First Impression counts
- Do you have access to a Property Management Consultant?
Wednesday, June 10, 2020
How Does The World See Property Investments After Lockdown
What You Must Consider About Property Investments Post Lockdown?
- Supply & Labour Issues
- Demand Issues
- Supply & Labour Issues
Monday, May 11, 2020
How to Have a Fantastic Property Management During Covid-19 Pandemic
The insufficiency in operations hasn't however stopped for landlords as their properties will need plenty of assistance from maintenance to repairs and regular housekeeping. Property management, on its own, has become a daunting task. At OwnersTown, we've come up with several Property Management tips that can help you manage your rental properties effectively as the COVID-19 rages on.