Govt issues notification of One Time Settlement Scheme for property tax defaulters
Kanwar Inder Singh/ royalpatiala.in News/ May 15,2025
Punjab government has issued a notification of One Time Settlement (OTS) scheme on unpaid / partially paid property tax.
Providing a major relief, the state has waived-off all penalty and interest levied on the outstanding principal amount, which can be paid till July 31,2025.
However, if the above dues are paid after July 31,2025 but before October 31,2025, then waiver on all the penalty and interest levied on the said amount shall be fifty percent along with principal amount.
After expiry of the said period, all the penalty and the interest on the due amount will be charged as levied under Acts ibid.
The OTS is going to provide a major relief to defaulters who have not paid property tax in the past and are otherwise supposed to pay 20 per cent penalty and 18 per cent annual interest on the outstanding principal amount of all previous fiscal years to get their dues cleared.
