The Property Tax amounts are deposited in the NMC accounts through the banks. And according to the rules, the amounts should be deposited within three days. However, the Axis Bank and HDFC Bank kept the money for a whopping one year with them only. Axis Bank kept and utilized Rs. 1,61,00,000 of NMC and the HDFC Bank Rs 8,00,000 for their own purposes.
The Nagpur Municipal Corporation (NMC) has put on notice the Axis Bank and HDFC Bank for keeping the paid Property Tax amounts with them only instead of deposing the money in NMC accounts.
The Property Tax amounts are deposited in the NMC accounts through the banks. And according to the rules, the amounts should be deposited within three days. However, the Axis Bank and HDFC Bank kept the money for a whopping one year with them only.
The Standing Committee Chairman Avinash Thakre and the NMC Administration have pushed the efforts in the direction of recovering the Property Tax in great magnitude. The NMC is searching and searching the new properties and Tax is being levied on the new properties. However, when the Additional Deputy Commissioner Ravindra Kumbhare reviewed the recovery of the Property Tax, he found a massive difference in Demand Notes and recovery in the Hanuman Nagar Zone. Immediately an audit of the recovery of Property Tax of Hanuman Nagar Zone was carried out with the permission of NMC Commissioner Shyam Wardhane.
The entire NMC Administration was bewildered to find that the Axis Bank and HDFC Bank had not deposited the Property Tax amounts in the NMC’s accounts since past one year. Axis Bank defaulted with the amount of Rs. 1,61,00,000 and the HDFC Bank with Rs 8,00,000. Taking the serious note of the matter, the Additional Deputy Commissioner Ravindra Kumbhare slapped both the banks with notices.
According to sources, Axis Bank has deposited the pending amount of Rs 1,61,00,000 into the account of NMC. Kumbhare toll Nagpur Today, just like the two per cent fine is recovered per month from the common citizens for defaulting payment of Property Tax, the two percent penalty would be recovered from the banks for utilizing the large NMC amounts for their own purposes.