Neglog - Multiple taxes, Property Tax and Income Taxes
Taxes refer to the money paid by an individual towards the government for income earned from various quarters.
After the income tax comes the professional tax. It is very nominal when compared with the income tax. The professional task is linked to the profession of an individual. The professional tax hardly crosses the limit set by the agency unlike the income tax that can vary on the basis of the income drawn by the individual.
The third type of tax is the property tax, charged on houses and properties owned by individuals. The property tax is also called as house tax. The property tax is paid to the local self government. The property tax is dependent on the prevailing market value of the property. However, if the building is old, the municipality will offer depreciation depending on the age of the building. Depreciation is not offered to buildings and properties that are just four years old since the property guidance value is revised once every five years.
There are various other categories of taxes also. These taxes are collected by the local self government. One of them is called the infrastructure tax. It is collected by the municipality from owners of vehicles for using the infrastructure of the city such as roads, viaducts, flyovers and grade separators. This tax has been imposed to encourage people to use the public transportation system and to reduce their dependence on personal vehicles. The more the number of personal vehicles on the road, the greater is the congestion. Therefore, the infrastructure tax has been evolved.
Another tax is the solid waste management tax. This is a tax collected in bigger cities. It is used to dispose off the large amount of domestic waste generated in a city. It could be organic or inorganic waste and other general wastes generated by a family. The solid waste management tax is also collected by the local municipality.
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