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Whosoever does not want property tax to be imposed is surely coming between the development of the UT. It depicts that the critics are envying the prosperity of Jammu and Kashmir. There has been a lot of controversies in our valley regarding property tax. Many so-called political parties have stood against the imposition of this tax. Though the tax is going to benefit the UT, many fallacious rumors have been circulating on the media to deceive and misguide the common people. It is a problem with people nowadays that they easily believe anything without having proper knowledge. They don’t have awareness regarding anything. This creates confusion and hatred in the hearts of people. It is unfortunate that Jammu and Kashmir is the sole UT in India where property tax had not been imposed at all. All nations of the world collect property tax as it is the strongest source of income for any nation. The biggest reason our valley didn’t progress well is that people remained free from taxes. Weak finances hampered the growth of Jammu and Kashmir making it lame. Hats-off to the administration they have taken initiative to work on the UT. Times are changing now and the current administration is opening new avenues for the people and creating paths of development at a fast pace. The Government is aiming for the concept of “New Kashmir ” where people have a better quality of life. There are some elements who want to see Kashmir as it was. They create confusion because they don’t want development at all. Their only target is to keep our valley far away from progress. Lately, a notification has been issued for the imposition of property tax by the administration in Jammu and Kashmir with effect from April 1st, 2023. The Property Tax is proposed to be levied at 5% of the Taxable Annual Value (TAV) of the Property in case of a Residential Property and at 6% of the Taxable Annual Value (TAV), in the case of Non-Residential Property. Property tax is the only source that can help in the development of the UT. Many nations in the world are excelling due to this tax but Jammu & Kashmir is struggling in terms of development. The administration has ensured that the tax collected from the people will be used for their development purpose hopefully. It also ensures that the tax will not be a burden on people but it will be collected in two equal installments which people can manage easily. The tax will be imposed to improve the quality of life in our valley. The monies will be used in the right place for development.
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