Bengaluru metropolitan transport corporation seeks property tax waiver of Rs 15 crore

Bengaluru metropolitan transport corporation seeks property tax waiver of Rs 15 crore
02/08/2018 , by , in News/Views

The Bangalore Metropolitan Transport Corporation (BMTC) is seeking exemption from paying property tax on the grounds that it is a public transport utility. A senior BMTC official, on condition of anonymity, told Bangalore Mirror that Bruhat Bangalore Mahanagara Palike (BBMP) has exempted property tax for Bangalore Water Supply and Sewerage Board (BWSSB), some schools and even for kalyana mantaps, which gives the corporation hope that its taxes will be waived.
According to sources in the BMTC, the cash-strapped corporation has to pay property tax to the tune of about five crore rupees a year. It has not paid its taxes to BBMP since 2016 and has a burden of Rs 15 crore, not including interest and penalty.

“The BBMP is dilly-dallying over the issue. We will pay tax for the commercial complexes owned by BMRCL. We are just requesting for an exemption for property taxes on depots and bus stations,” says the BMTC official.

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