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Property Tax in Indore

Indore is generally referred to as the education hub of Madhya Pradesh. It has a lot of technical institutes and is among the wealthiest cities in Madhya Pradesh. It is among the first 100 smart cities that were developed in the country. Indore Municipal Corporation is the body that is responsible for the governance of the city. The Municipal Corporations take care that the property taxes are paid on time and by every citizen who is residing in the city. The Indore Municipal Corporation is run by the mayor and is also responsible for maintaining civic amenities for the public. The infrastructure and public places are maintained by the Municipal Corporations in the city.

The state government imposes property tax for the maintenance of each state and the facilities available in the state. Property tax has to be paid by residential as well as commercial property owners in the state. Since it is a tax which is decided by the state governments, Madhya Pradesh Government decides on taxes to be paid by the citizens residing in the city of Indore. The value of the property decides the payment be made by the taxpayers as property tax. A website has been created by the IMC for paying taxes and maintaining the records for the same.

Calculation of tax

The calculation for payment of property tax to Municipal Corporation can be done online. The IMC has a calculator on the website that can be used for the same.

  • The taxpayer has to visit the official website of IMC
  • There is an option which says payment of charges or taxes
  • After selecting the same, you will see a property tax option
  • The payment of property tax should be selected for paying the taxes
  • After selecting the above, the page will be redirected to a new page
  • On this page, your property ID has to be entered
  • The payable amount will be visible on the screen once the ID is entered
  • The payment option has to be selected by the taxpayer
  • The taxpayer can opt to pay the tax via a credit card, debit card or net banking
  • The receipt for the same will be generated immediately after payment of the tax
  • The receipt should be kept for future reference by the taxpayer.

Manual Calculation

  • The plinth area of the property has to be known for calculating the tax manually. The plinth area is the total built-up area of the property including the balconies and garages.
  • The current rate per square foot of the property can be known and the monthly rental value can be calculated after that.
  • the formula for calculation is as below PA * MRV * 12[(0.17-0.30)] - [10%(depreciation)] + [8%(library cess)]
  • In the above formula PA refers to the plinth area, MRV refers to the monthly rental value.
  • The above formula is for calculating the tax for residential properties
  • The tax calculator on the IMC website is an easier way to calculate and pay tax.

Payment of Property Tax

The online payment of tax is an easy and hassle-free process. The Madhya-Pradesh government has also updated their official website and thus the payment procedure is quite simple.

Online Process

  • The online process is very fast and simple
  • The taxpayer needs to visit the official website of IMC
  • The website displays an option on the page which says payment of charges or taxes
  • The taxpayer can select the above and select payment of taxes
  • Once the payment of taxes is selected, the website is redirected to a different page
  • On the redirected page, the property identification number has to be entered
  • The taxpayer can verify all the details about the property there.
  • The payment can be initiated on the same page
  • The taxpayer can select the method of payment like debit card, credit card or net banking
  • The receipt for the payment of tax is generated immediately and has to be saved for future reference.

Offline Process

  • The offline process to pay property tax in Indore is also a simple process
  • The taxpayer has to visit the municipal office in the city
  • The officials will enquire about personal details and the property details of the taxpayer
  • After the details are entered into the system of the official at the desk, the amount payable is reflected by the system
  • The amount payable is the final amount that has to be paid
  • The taxpayer can pay the amount can collect a receipt from the office
  • It is advised that the receipt should be kept for future reference.

Due Date for Payment of Tax

The Indore Municipal Corporation has a practice of updating the last date of payment on the official portal. Thus the due date is decided by the Municipal Corporation office. All the significant information can be easily accessed on the Indore Municipal Corporation office website.

Payment of Tax on Apps

The Indore Municipal Corporation has a dedicated app which is functioning for the purpose of payment of dues by the citizens and also the general administration of the offices. The payment for taxes can be made via the mobile application. The mobile application is also connected to several payment platforms such as Paytm, GooglePay and also UPI. The advantages of the above are that the payments can be made really quickly and the status is updated immediately. The receipts can also be downloaded for future use.

The IMC has launched new software for the citizens wherein the building plans can be uploaded online and the approval for the same can also be obtained by the individual who is planning and constructing the building.

Latest Updates from IMC

The IMC has introduced several green projects which are expected to boost revenue for the body. The officials are keen to include a large number of projects under this program. Maximum carbon credits can be obtained after the projects are clubbed separately by IMC. IMC will be the first civic body in Asia to get credits under the VCS program

Details Regarding Property

If the taxpayer wishes to find out the details about the property in case of inheritance or gift, they can do so by using the official website.

The property can be searched according to the ward number, zone number or property ID.

The find colony option on the website displays the colonies that are located in the city of Indore and the taxpayer can then search the property with the ward or zone numbers.

The receipt of the taxes paid can also be accessed from the official website of the IMC. The details to be entered are the PIN number or the service number so that the receipt can be easily downloaded.

To find the 'no dues certificate' on the website, the option says certificates which need to be selected and the 'no dues certificate' can be downloaded from the website.

FAQs

1. What does IMC stand for?

IMC stands for Indore Municipal Corporation which is responsible for the collection of property tax and maintaining the civic amenities in the city.

2. Can property tax be paid online to IMC?

Yes, property tax can be paid online to IMC by visiting the official website.

3. Can property tax be self-assessed by the taxpayer?

Yes, the official website of IMC gives an option to self assess the tax in which all the details can be entered by the taxpayer and the calculated tax is visible which is the payment to be made as to property tax.

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