Maharashtra to Eliminate NA Tax for Urban Housing Societies
Real Estate

Maharashtra to Eliminate NA Tax for Urban Housing Societies

The Maharashtra government is expected to eliminate the non-agriculture (NA) tax for urban housing societies before the announcement of assembly elections, according to a senior revenue department official. This decision follows requests from political leaders and housing federations to scrap the tax, which affects many older societies facing hefty payment notices.

The official noted that the announcement might come before the model code of conduct for elections takes effect in October. Currently, the tax applies to societies outside gaothan areas within municipal jurisdictions, with only 10,000-15,000 of the nearly 200,000 societies exempt from the NA tax.

Despite a stay on NA tax collection since 2022, concerns persist about double taxation on landholders who have already paid a one-time NA conversion tax. Housing federation president Suhas Patwardhan expressed that if the exemption is declared before the elections, it would significantly relieve affected housing societies.

While the state government is reportedly leaning toward withdrawing the NA tax, some society members remain unaware of the stay, continuing to make payments. Advocates argue that the current tax provisions discriminate against residential sites and lead to unfair classifications.

The Maharashtra government is expected to eliminate the non-agriculture (NA) tax for urban housing societies before the announcement of assembly elections, according to a senior revenue department official. This decision follows requests from political leaders and housing federations to scrap the tax, which affects many older societies facing hefty payment notices. The official noted that the announcement might come before the model code of conduct for elections takes effect in October. Currently, the tax applies to societies outside gaothan areas within municipal jurisdictions, with only 10,000-15,000 of the nearly 200,000 societies exempt from the NA tax. Despite a stay on NA tax collection since 2022, concerns persist about double taxation on landholders who have already paid a one-time NA conversion tax. Housing federation president Suhas Patwardhan expressed that if the exemption is declared before the elections, it would significantly relieve affected housing societies. While the state government is reportedly leaning toward withdrawing the NA tax, some society members remain unaware of the stay, continuing to make payments. Advocates argue that the current tax provisions discriminate against residential sites and lead to unfair classifications.

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000