How to pay Holding Tax in Orissa through online and offline mode and Procedure of Calculation
Property Tax has been named as Holding Tax in Orissa Municipal Corporation Act, 2003. Holding Tax is one % of annual value and it is the prime source of Revenue for Orissa Municipal Corporation. Any citizen who is holding any property and comes under the jurisdiction of Municipal Corporation has to pay Holding Tax as per the OMC Act.
As per the Orissa Municipal Act, any holder of property under the Municipal Corporation limit must have to pay Holding Tax. The holding tax can be charged @ of seventeen point five percent (17.5%) of the annual value of the holding of the property. Its depend on the nature of holder (residential or commercial).
How to Calculate Holding Tax:
The method of calculating the holding tax is based on the formula, which is given below:
Annual Rental Value can be get:-
Annual Rental Value per Sqft. (x) Total Build up Area in sq.ft.
Annual Tax is 20.5 percent of Annual Rental Value
Rebate of 10% will be given to all Govt. building, Govt. Educational Institutions, Govt. Hospitals, Govt. Cultural Institution. They have to pay only 7.5 percent against latrine and light tax.
How the Holding /Property Tax calculated in Orissa:
Residential – The process is as follows-
Stage 1 :- Plinth Area of the holding in Square Meter (x) Rs. 13.65
Stage 2 :- Subtract fifteen percent (15%) of Plinth Area againt repair and maintenance
Stage 3 :- Now Add 0.5% of the land cost where the holding of residential property is located.
Annual Value = Stage 1 + Stage 2 – Stage 3
Holding Tax is charged as @17.5 percent per annum of the Annual Value.
Holding Tax is charged as 10%
Latrine Tax is charged as 2.5%
And Street Light is charged as 5%
Commercial property – The process is as follows-
Stage 1 :- Here the user have to add civil cost of the building (+) the cost of PH and Electric fitting.
Stage 2 :- In this stage, the user have to take 7.5% of the value which come through Stage 1.
Stage 3 :- Now Add 0.5% of the land cost with Stage 2
Stage 4 :- The 17.5% of the cost which we get at Stage 3 is the Holding Tax can be paid yearly.
How to Pay Holding Tax online in Orissa:
The tax payer can make the payment of Holding Tax online by going to the website www.ulborissa.gov.in. Here you need to click on Citizen Services, where you will get an option of holding tax, click on it. A new page of Property/Holding Tax will open up, where you will get many options. Now click on the Self Assessment of Holding and fill the form with all the required details and submit it and payment gateway mode will open. Select you mode of payment and then you will get a transaction receipt. Take a print out of it for future use. You can also check the status your application by entering the application number & Date and online request number and by clicking on search. The user can also view the payment details entering some information. The calculator to calculate your property/holding tax is also available on the website.
How to Pay Holding Tax offline in Orissa:
To pay the Holding/Property Tax, you can go to your cerned Orissa e-municipality office of Tax wing. Provide the approved building plan’s copy to the officials for facilitating evaluation of Holding/Property Tax