Home » Income Tax » Live Near Metro? Get Ready To Pay Extra Tax

Live Near Metro? Get Ready To Pay Extra Tax

Are you living close to Metro corridor? If yes, here is something that can directly impact your pocket. It is been proposed to the government, to impose additional tax on people who lives close to the metro corridors.

The Union Urban Development ministry proposed this to the state government asking their opinion on the proposal of levying tax on land transactions near the metro corridor. Some states like Tamil Nadu and Andhra Pradesh are in favour of this proposal.

metro tax

According to Urban Development Ministry, the running expenses of Metro project is quite huge. And to take this project ahead in other states of the country needs additional revenue. Which is the reason, ministry is looking for some innovative sources for generating additional funds. Levying taxes on people staying close to the metro corridors will help generate extra funds for the development of metro in the country.

If this proposal gets approved, it would soon be implemented in states like Delhi along the Metro corridors as it is one of the few cities which has Metro transport system.

We will bring you the latest updates on the same as they happen. Stay tuned to Fingyan by following FingyanOfficial Facebook Page and sign up for our free newsletter.

ALSO READ : How To Check Pending Income Tax Refund Status Online In India – Step By Step Procedure

ALSO READ : Types Of Income Tax Return Forms In India For The AY 2011-2012

ALSO READ : What Are Input Tax And Output Tax




Related Income Tax News