Finance

Complete Guidelines on Paying Pune Property Tax

In India, property tax or house tax is a significant source of revenue for a state. The local government or municipal body entities levy tax on properties, including all tangible real estate property, houses, office buildings, and rented spaces. The local government and municipal corporations use the collected tax amount to provide civic amenities.  For Instance, property owners across states and cities are liable to pay this tax to government entities at specified dates. Read on to learn about the complete guidelines for paying tax.  

Payment process of Pune property tax

Property owners of Pune must pay property tax (twice a year) to the Pune Municipal Corporation (PMC) or the Pimpri Chinchwad Municipal Corporation (PCMC) on the basis of their location. The tax amount depends on location, area, occupancy (self-occupied or rented), and usage (residential or commercial). 

In addition, Individuals can pay tax online in Pune or take the traditional route of paying it offline. Both the processes are discussed separately:

  • Paying tax online at PMC

Step 1 – Visit the official website of Pune Municipal Corporation.

Step 2 – Click on either ‘NEFT / RTGS Payment’ or ‘Pay Online’ as per preference.  

Step 3 – Provide property tax details on the following page and click on ‘Submit’. Also, verify the details shown on the screen. 

Step 4 – Next, tax amount individuals are willing to pay, verify email ID, mobile number. 

Step 5 – Select a suitable payment gateway and complete payment of PMC tax online.

  • Paying property tax offline at PMC

In addition, Individuals can pay house tax in Pune offline by visiting the following office or centres, 

  • Nearest PMC office
  • PMC ward office (currently, there are 30 wards offices under PMC) in a respective locality
  • Citizen’s facilitation centre under Pune Municipal Corporation
  • Self-pay tax payment kiosks
  • Authorised institutions

For Example, individuals can pay via cash or cheque or demand draft. Remember, the demand draft be drawn in favour of “The Assessor and Collector of Tax, PMC Pune.” 

Note: Individuals can check PMC tax bills at the above-mentioned website.

In addition, Individuals living in the Pimpri-Chinchwad region can pay tax online or offline at Pimpri Chinchwad Municipal Corporation. Read on to learn about the process.

  • Paying tax online at PCMC 

Step 1 – Visit the official website of PCMC.

Step 2 – Navigate to the ‘Residents’ option on the homepage and select ‘Property Tax’.

Step 3 – Select the property bill payment option. On the following page, Search for PCMC tax by property code or provide details such as zone, and owner’s name.

Step 4 – Next, click on ‘Make Payment Option’. Follow the instructions and complete payment.

  • Paying tax offline at PCMC 

In addition, Taxpayers can pay house tax at PCMC via cash or cheque or demand draft. The latter two options must be drawn in favour of ‘Commissioner, Pimpri Chinchwad Municipal Corporation, Pimpri, Pune-18’. Individuals have to mention their property tax number and contact number at the back of the payment mode.

Due Date of Paying Property Tax at Pune Municipal Corporation

In addition, The due date for paying property tax in Pune is 31st May (first-half) and 31st September (second-half), respectively. In case of delayed payment, individuals have to pay a 2% penalty per month. 

In addition, property owners can get the following rebate for tax payments before due dates,

  • Residential or non-residential property- 10% for annual rateable value for Rs.25000 and 5% of above Rs.25000
  • Residential properties with vermiculture, rainwater harvesting solar can gain a rebate of 5% for having one of these projects and 10% for having two of these projects. 

Paying property tax timely helps individuals get a loan against property (LAP) in case they need a substantial amount to fund a child’s higher education and marriage expenses. Tax receipts fall under the list of documents needed to apply for a loan against property.

For Instance, There are several financial institutions that offer loans against property against relaxed eligibility and minimal documentation. 

These financial institutions extend pre-approved offers to streamline loan processing. These offers are applicable to other financial products, such as home loans. Individuals can check their pre-approved offers by entering names and contact details.

Remember, a loan against property helps in consolidating existing debt and managing finances better.   

In addition, Now that individuals know the payment procedure of taxdue date, paying it timely would be much easier and more beneficial.

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