In the same way that a person’s income from various sources is subject to income tax, their immovable property is also subject to tax. Every piece of real estate is taxable.
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Property tax is a tax that is paid to the municipal corporation or the local government of a person’s region by the owner of any land, building, premises, flat, gala, unit, etc. The government levies property tax on all movable real estate assets.
WHAT IS PROPERTY TAX?
The Municipal Co-Corporation of Delhi (MCD) is in charge of collecting property taxes in Delhi. Property taxes are a significant source of income for the MCD, and they are used to maintain and upgrade public facilities and infrastructure. An MCD property tax or house tax is due from everyone who owns land or property in Delhi.
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Delhi has been divided into three municipal corporations:
- East Delhi Municipal Corporation (EDMC)
- North Delhi Municipal Corporation (EDMC)
- South Delhi Municipal Corporation (SDMC)
Due to the MCD’s division into regions, property owners must ascertain which area their property falls under and are only required to pay property taxes to that MCD.
Therefore, the property taxes for North Delhi, East Delhi, and South Delhi are paid to the respective municipalities: NDMC, EDMC, and SDMC. Property tax in Delhi is a significant source of income for MCD. Therefore, it is crucial that you, as an individual, always pay the property tax on time.
