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AMC proposed 2% additional rebate on Commercial Properties

by TLAteam June 20, 2023June 20, 2023
written by TLAteam June 20, 2023June 20, 2023
AMC proposed  2% additional rebate on Commercial Properties

The Amdavad Municipal Corporation (AMC) has proposed to provide a 2% additional rebate to hotels, restaurants, cinemas, gymnasiums and residential properties of less than 40 sq m carpet area. The proposal, if approved, will help 25 lakh residents including owners of 6,50,000 residential properties.

Business News

The AMC provides a 12% rebate on general, water and conservancy tax under its advance tax rebate scheme provided the tax was paid between April 18 and May 17, 2023. Under the scheme, online payment during the period resulted in an additional tax rebate of 1% taking the total rebate to 13%. A taxpayer was entitled to a 2% additional rebate if he/she had been paying the tax for the last three consecutive years.

A taxpayer who had been paying the tax for the last three years and also paying it online was entitled to a total tax rebate of 15%.

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