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Delhi LG Vinai Kumar Saxena launched property tax amnesty scheme SAMRIDDHI

Delhi LG Vinai Kumar Saxena launched property tax amnesty scheme SAMRIDDHI_4.1

Delhi Lieutenant Governor Vinai Kumar Saxena has launched a one-time property tax amnesty scheme “SAMRIDDHI 2022-23”, which will provide a major relief to lakhs of residential and commercial property owners in the city. SAMRIDDHI, an acronym for Strengthening and Augmentation of Municipal Revenue for Infrastructure Development in Delhi, will start on October 26 and end on March 31, 2023, with no further extensions.

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SAMRIDDHI 2022-23:

  • The scheme aims at solving thousands of pending court cases since the unit area method for property tax calculation came into existence from 2004.
  • The scheme will benefit both the Municipal Corporation of Delhi (MCD) and the city’s residents.
  • Under this scheme, the residential properties will have to pay tax for 1+5 years (the ongoing financial year and last five years), while the commercial properties will be able to pay taxes for 1+6 years (current year + last 6 years).
  • After this payment, there will be no liability of the taxpayer. This payment can be scrutinised for one year, after which the matter will be settled. The tax will be used for developing roads, parks and schools.

Important points under the scheme:

  • Those who opt to participate in the SAMRIDDHI scheme will have to pay only the principal amounts for the current financial year, and 2017-18 to 2021-22 (residential units) or 2016-17 to 2021-22 (commercial units), following which 100% of the interest and penalty on the outstanding tax amount will be exempted and all dues prior to 2016-17 will be waived off.
  • The amnesty scheme will also cover cases involving dishonoured cheques, including cases where the bank account and property have been attached, as well as those cases pending under litigation in courts. The MCD clarified that cases, where the principal, interest and penalty has already been paid before the launch of the scheme, will not be reassessed and reopened.

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