Local Body Tax
Previously existing tax norms replaced with the Pune Municipal Corporation (PMC) post March 31which is not only effective but also unique Local Body Tax (LBT) without any partiality. Initiative has been taken with the state government taking decision and then announcing to abolish prevailing system for more accuracy. PMC has already taken steps to follow and adopt the new rules applicable. Benefits of LBT are being highly business friendly option with multiple online features and no physical barriers too. The details are briefed by the Pune Municipal Corporation Commissioner in an announcement.
Aspects like generating revenue from the taxes too came under discussion. The commissioner explained that estimations and calculations are still underway to judge LBT revenue better unlike octroi revenue as stated. It is said that there would be wait until actual system implements.
There won’t be any complication in the new application whose five broader categories prove beneficial for best possible trade and business. Corporations and traders would require special software for their assistance to run it.
Local Body Tax :