What benefits does a self-assessor get and what are the problems faced by a tax evader?
There is an offer of a concession of 5% for those who remit the tax for the year 2002-03 and 2003-04 before 30-9-2003. There is no fear of harassment, litigations to him. For those who evade tax without assessment of property, 2% of penalty will be imposed compulsorily for each month. Question 4: There is much difference in the value of land and building fixed by Registration Department from one street to another. So do we have to pay tax based on the value assessment made by the Registration Department? It is natural that the market value of land in different areas is different. Having agreed, hitherto, the market value fixed by the Expert Committee under Section 45B of Stamp Act since several years, it is not proper to oppose it now at the time of paying this property tax. It is inevitable to pay property tax as per the value announced so far.
