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Nashik Municipal Corporation introduces new property tax system for rental properties

#Taxation & Finance News#India#Maharashtra#Nashik
Last Updated : 3rd Apr, 2025
Synopsis

Effective April 1, the Nashik Municipal Corporation (NMC) will levy a 30% additional tax on both residential and commercial rental properties, replacing the previous high surcharges. Earlier, Residential rental properties had to pay a surcharge of 100%, while commercial rental properties had to pay 400%. Property owners will need to provide tenant information to benefit from the new system. NMC has appointed private agencies to conduct surveys and ensure proper tax assessments.

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