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Bangalore - Inherited Property tax issue

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Bangalore - Inherited Property tax issue

Last updated: May 17 2020
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  • Bangalore - Inherited Property tax issue

    As the title says, how do you approach a situation like this and how do you fix it? Do I contact a CA to help me on this or what to do? What's the consequences here? I recently inheirted the property from my parents and found out about this and its terrifying to say the least. Looking for ways to fix this and the best way to fix this.
    Last edited May 17 2020, 08:03 PM.
  • #2

    #2

    Re : Bangalore - Inherited Property tax issue

    I suppose, as you have inherited the property, its liabilities to the extent of value of the property is to be paid by you.
    Please read IREF rules | FAQ's

    Comment


    • MANOJa
      MANOJa commented
      Editing a comment
      Confiscating property is an option available to all Municipal Corporations, but that is extremely unlikely. Things can be settled very easily before such a position arises.

      Just meet your CA and some of these consultants and start working towards an immediate resolution.

      As per the web, BBMP in case of delayed payment asks for interest at 2% per month or 24% per annum. There could be huge penalties too at the discretion of the officer concerned ( which can always be brought to negligible levels with the help of the consultant).

    • MANOJa
      MANOJa commented
      Editing a comment
      Visit this site too - https://bbmptax.karnataka.gov.in/Default.aspx .

      It has sample calculations on Property tax and would certainly have notifications on delayed payments and related things.

    • MANOJa
      MANOJa commented
      Editing a comment
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