Listing for Property Tax

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Documents required listing for property tax

There are many documents required for property tax, and these documents may vary state to state, but there are some standard documents that are essential for property tax in India.

 These documents are as follows:

  • Pan and Adhaar card
  • Documents if you are under tax exemption
  • Choose the appropriate form based on the category of your property.
  • Bank statement
  • Income proof from the property
The above are the primary documents that one requires at the time of paying property tax. You can pay property tax online. There are two types of deductions are there under section 24 in the income tax act
  • Standard deduction

In standard deduction, there is an exemption for the taxpayer if a sum equal to 30% of the net value does not come under the tax limit. This rule is not applicable if you are living in the only house you own.
  • Interest on the loan

If you have a home loan for the purchase, renovation, construction of your home. The interest you pay for the principal amount of the loan is exempted from the tax payment. There are sub-clauses, and are as follows:
  • Claim exemption up to 2 lakhs if the home loan has been taken for your occupied property.
  • If you have taken the loan for the construction, then you can claim an exemption on interest before completing its construction.
  • If you take a loan for renovating or reconstructing your home, then you are not eligible for an exemption until the renovation is completed.

Penalty for not listing for property tax

You are liable to pay penalties if you do not pay your property tax on time. These penalties generally depend upon the equivalent to a certain percentage of the amount that is due. Penalties vary from state to state, and in some states, there is an option of waiving off while other charges from 5% to 20% depending upon the property and polices. 


Tax is an important source of income for the government. Therefore, property tax is charged on the estimated value of the property you own. The tax rates and valuation methods may differ from city to city. The Governing Authority of the jurisdiction has the authority to charge you with tax. Property tax is levied on immovable property – land, and structures that are permanently immobile such as a house, building, or land. If you own a property, you can pay the tax directly to your local tax assessor or indirectly with your monthly mortgage payment. The payment process can be done offline or online, whether it can be through the rent, income from house property, sale, etc. As every property is an asset, so the owner of the land needs to pay (offline or online) the annual tax to the government. Listing of property tax refers to the requirement that the owners need to report to the tax office in India that the property belongs to them.

 Following are the types of properties:

  • Land is a basic form of property without any construction.
  • Personal property includes movable human-made objects like cars, buses, etc.
  • Land convert into godowns, buildings, etc
  • Intangible property like patents, copyrights, etc

Who/why should Listing for property tax

Those who are the owner of the property need to register for the listing of property tax. Property tax varies from location to location as it is not under the central government. It is under the local municipalities. For example, If you are earning Rs 2 lakhs as property rent, then you should pay property tax to the government as per your location tax rates. If your property is vacant and not giving you any earning, then you don’t need to pay property tax, and you can carry forward the loss up to 8 years. Now you can pay your land tax online without any hassles.

Tax deductions through income from house property

  • If you are renting out your house and you receive rent, then this income is under property tax.
  • Having more than one house, then on the net value of the homes except you are living is considered under the income from house property.
  • Whether you have only one house in which you are living, then you are not liable to pay any tax against it as property tax.
Calculating property is a little complicated. You have the knowledge of it as most of the things depend upon your state government. Here is a formula for calculating the property tax.

How Taxolawgy can help you with listing for property tax

Listing property tax is a little complicated. And most importantly, you need to know the terms and conditions of your state for listing property tax. You must have prior experience for registering property tax because, without knowledge, there are high chances of errors while listing property tax. But you do not need to worry about it as our experts are there for you to register your property tax. Our professionals have great experience in property tax listing for any state you want. 

You can hire our financial expert in four simple steps

  1. Choose an expert as per your convenience.
  2. Be transparent about the scope of work and cost.
  3. Make an escrow payment.
  4. Get your job done.

Reasons behind why Taxolawgy is best for filing ITR for business

  • You have heard the phrase “practice makes a man expert” here, our team has years of experience; it makes them experts in their field.
  • You can hire our professionals as per your convenience or base on the work you want from us.
  • You can directly contact your team if you have doubts in your mind.
  • We ensure you will get quality services at a low price.

How to Calculate property tax

The formula used for calculating the property tax in India   Property tax=base value*built-up area*Age factor*type of building*category of use*floor factor Property tax depends on the state to state and the location of the property. Therefore, this makes you liable to pay tax rate according to your property location, earning from your property, and your state property tax rate.