{"id":993,"date":"2020-04-08T12:17:54","date_gmt":"2020-04-08T12:17:54","guid":{"rendered":"https:\/\/www.propertypistol.com\/blog\/?p=993"},"modified":"2024-01-18T13:54:18","modified_gmt":"2024-01-18T08:24:18","slug":"amid-covid-19-pandemic-the-deadlines-of-property-tax-have-been-extended","status":"publish","type":"post","link":"https:\/\/www.propertypistol.com\/blog\/amid-covid-19-pandemic-the-deadlines-of-property-tax-have-been-extended\/","title":{"rendered":"Amid COVID-19 pandemic, the deadlines of property tax have been extended"},"content":{"rendered":"\n<p><em>The <a href=\"https:\/\/www.propertypistol.com\/blog\/measures-by-the-government-that-could-revive-real-estate\/\">Coronavirus outbreak<\/a> has taken up the whole economy, while struggling to combat this disease government has given a relief in property tax deadlines. <\/em><strong><em>&nbsp;<\/em><\/strong><\/p>\n\n\n\n<!--more-->\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"1024\" height=\"270\" src=\"https:\/\/www.propertypistol.com\/blog\/wp-content\/uploads\/2019\/12\/Blog-Headers-04-1024x270.jpg\" alt=\"Performance of real estate in India\" class=\"wp-image-737\" srcset=\"https:\/\/www.propertypistol.com\/blog\/wp-content\/uploads\/2019\/12\/Blog-Headers-04-1024x270.jpg 1024w, https:\/\/www.propertypistol.com\/blog\/wp-content\/uploads\/2019\/12\/Blog-Headers-04-300x79.jpg 300w, https:\/\/www.propertypistol.com\/blog\/wp-content\/uploads\/2019\/12\/Blog-Headers-04-768x203.jpg 768w, https:\/\/www.propertypistol.com\/blog\/wp-content\/uploads\/2019\/12\/Blog-Headers-04.jpg 1325w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>In an unprecedented move, the Indian\nGovernment is trying to ease the burden of economic hardships. To give relief\nto the property tax payers during this situation, government had announced the\nextension of the last date for paying property tax for three months, till June\n30.&nbsp;<\/p>\n\n\n\n<p>As per the sources, this will be the\nfirst time in the history of tax filing, which would lead to a major change in\nthe structure of the financial year. Many cities and states like Hyderabad,\nKolkata, Kolhapur, Nashik, Ludhiana, Chandigarh, and many others have decided\nto extend the deadline for tax payment by 2-3 months.&nbsp;<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>Relief for taxpayers<\/strong><\/h5>\n\n\n\n<p>The civic authorities have mentioned that\nthe owners of residential and commercial did not need to panic after three\nmonths about payment of pending taxes. They would exempt all of them from\npaying interest or penalties for delay. Instead, taxpayers would enjoy\nmandatory rebates even after clearing the backlog.&nbsp;<\/p>\n\n\n\n<p>In a similar move, self- assessment of\ntax for the coming financial year will be from May 1 to June 30. A rebate of\n10% on commercial properties and 20% on&nbsp;<strong>residential properties<\/strong>&nbsp;will be\ndone. The Civic body will order in a few days.&nbsp;<\/p>\n\n\n\n<p>It\u2019s a sigh of relief majorly for the\u00a0<strong>developers<\/strong>\u00a0and\u00a0<strong>homebuyers<\/strong>\u00a0as they are being exempt from the burden of interests and penalties at certain areas; also due to procedural delays in tax collection in this difficult time.\u00a0<\/p>\n\n\n\n<p>Due to lockdown, financial turmoil, and <strong>the <a href=\"https:\/\/www.propertypistol.com\/blog\/tips-for-housing-societies-to-avoid-covid-19-spread\/\">COVID-19 crisis<\/a><\/strong>, the civic administration had to take the significant step to provide relief without considering any financial loss. The deadline for property tax has been extended but as per the civic body of respective cities or states.<\/p>\n\n\n\n<p style=\"font-size:12px\"><em><strong>Disclaimer:&nbsp;<\/strong>The views expressed above are for informational purposes only based on industry reports and related news stories. Propertypistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Coronavirus outbreak has taken up the whole economy, while struggling to combat this disease government has given a relief in property tax deadlines. &nbsp;<\/p>\n","protected":false},"author":2,"featured_media":996,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[84],"tags":[],"class_list":["post-993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tax-guide","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Covid-19 Impact: The deadlines of property tax have been extended - 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