One Time Settlement: BBMP yet to get Rs 550 cr as deadline nears

Bengaluru, NT Bureau: At the moment, the coffers of the Bruhat Bengaluru Mahanagara Palike (BBMP) is in desperate need of filling, as only Rs. 184.77 crore out of Rs 733.71 crore tax demand via the One Time Settlement (OTS) scheme has been received despite Wednesday’s deadline, leaving Rs. 548.91 crore yet to be received. Property tax remains the ultimate source of revenue for the BBMP.

The scheme helps taxpayers to settle their dues with half the penalty and no interest. According to the officials, there has been an increased payment in the last few days.

However, considering the civic body’s repeated reminders to use the OTS scheme, the meagre amount leaves the Palike dry.

“We have received requests to extend the OTS scheme, however, that will be decided on Wednesday” said a higher official in the revenue department.

Earlier reports suggest that there wouldn’t be any extension, after Deputy Chief Minister and Bengaluru Development Minister D K Shivakumar hinted against it. The Palike has encashed Rs. 2841 crore so far.

“This is an increase from last year on this day (July 30) which stood at Rs.2457 crore,” an official told News Trail There is also an increase in revision cases, where demand has spiked from Rs. 222.38 crores to Rs. 282.59 crore.

“Some have improperly declared their taxes, and after inspections, the demand for the same increases,” the higher official explained.