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In spite of this, due to a strong revenue base in form of taxes, there was a revenue surplus of INR 78 crores and an overall surplus of INR 18.98 crores (including capital account). Revenue income is primarily earned by NMC or for NMC by some external sources. Among own sources, the largest source is octroi (47%) followed by property tax (18%).
The tax is to be paid by a registered trader within 40 days. As per the rules, every trader whose annual turnover of purchase and sales of the goods included in the taxable schedule is not less than ₹ 5000 and if the annual turnover of purchase and sales of all the goods is not less than ₹ 1,00,000 (one lakh) is supposed to be registered with the local civic body i.e. municipality.
Thus, when the Mayor receives or sees the guest off, he does it on behalf of all the citizens of Mumbai. Similarly, when the Mayor accords a civic reception or presents a civic address to a Monarch, or a President or a Prime Minister of any country, he does so in the name of the Mumbai Municipal Corporation and the citizens of Mumbai.
The MMRDA was created on 26 January 1975 under the Mumbai Metropolitan Region Development Authority Act, 1974 Government of Maharashtra. The agency is responsible for planning and coordination of development activities in the Region.
The goal was to shift population and commercial activities from Mumbai to Navi Mumbai, which would be sustainable physically, economically and environmentally. The new city was projected to gain two million people and 750,000 jobs from the 1970s through the 1990s. The impact of Navi Mumbai on the growth of Mumbai was reflected in the 1980s.
Darryl Lloyd wasn’t prepared to receive a property tax bill of more than $30,000 this year — a whopping 1,567% hike from last year’s bill of $1,800.
For the 2024 tax year, the property would be assessed at the 10% rate, resulting in a tax bill of $3.6 million, according to the proposal. Both figures would be a big cut from taxes currently ...
The tenure of the Mayor and Deputy Mayor is two and a half years. The Commissioner, a key figure in the local self-government, is the executive head. He is the final administrative authority for the local self-government of Mumbai. For administrative purposes, Greater Mumbai is divided into 7 zones, each consisting of 3 to 5 wards named ...