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Local Body Tax, popularly known by its abbreviation as LBT, is the tax imposed by the local civic bodies of India on the entry of goods into a local area for consumption, use or sale therein. [1] The tax is imposed based on the Entry 52 of the State List from the Schedule VII of the Constitution of India which reads; "Taxes on the entry of ...
The payment of the property tax is usually made before mid-October. The tax notice is drawn up in the name of the owner who is the only person liable for the property tax. The precise deadline for paying it varies depending on the method of payment chosen. Exemption from property tax. In certain situations the property tax allows exemptions.
The Brihanmumbai Municipal Corporation (BMC), [4] or Municipal Corporation of Greater Mumbai (MCGM) is the governing civic body of Mumbai, the capital city of Maharashtra. Salman Khan Is Now Brand Ambassador of BMC from 2016. [ 5 ]
Funding for the services provided varies with the municipality in question. Funding can include tax revenue (property tax, income tax, municipal sales tax), fees (such as building permits), Grants from other Governments, fines such as speeding or parking violations, usage fees for optional services, or other sources such as profits from municipally owned or operated utilities.
Even though India's income tax was instituted in 1922 by the British, their tax history explains their high degree of tax delinquency today. [27] With effect from 1 April 2017, the Income-tax Act, 1961 has introduced the General Anti-avoidance Rules.
Mumbai Metropolitan Region (ISO: Muṁbaī Mahānagara Pradēśa; abbreviated to MMR and previously also known as Greater Bombay Metropolitan Area), [6] [7] is a metropolitan area consisting of Mumbai and its satellite towns in the northern Konkan division of Maharashtra in western India.
Mumbai City district is a district of Maharashtra in Konkan Division, India. As a city district, it has no headquarters or subdivisions. It, along with the Mumbai Suburban District, makes up the metropolis of Mumbai. This area is called the "Island City" or South Mumbai or Old Mumbai.
The name Mumbai (Marathi: मुंबई) originated from Mumbā or Mahā-Ambā—the name of the patron Hindu goddess (Kula Devata) Mumbadevi of the native Koli community [40] —and from ā'ī, meaning "mother" in the Marathi language, which is the mother tongue of the Koli people and the official language of Maharashtra.