How do I pay Holding Tax ?
Holding Tax has got the nomenclature of Property Tax in the Orissa Municipal Corporation Act, 2003. But since Rules and by-laws regulating the property Tax is in the pipeline, for the time being as per Orissa Municipal Act, 1950 Holding Tax is being collected.
Any holding within JM limits having clear right, title, interest of the holder is liable to pay Holding Tax @ of 20.5% of the annual rental value of the holding depending on the nature of holding, i.e. either residential or commercial.
How to apply for Holding Number ?
Following documents are required to apply for Holding Number
1. Prescribed form for Assessment
2. ROR of the land
3. JDA approved plan
Calculating Holding Tax of a Building B) Method of calculation of Holding Tax:
Annual Rental Value = Annual Rental Value per sqft. X Total build up area (in sqft.)
Annual Tax = 20.5% of Annual Rental Value
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