Vadodara: The Vadodara Municipal Corporation's two-month advance tax rebate scheme came to a successful conclusion on July 5, yielding positive results for both the corporation and the taxpayers. An estimated 150,000 taxpayers reaped the benefits of this scheme, which was initially rolled out on May 6 and extended by a month after its first expiration date on June 5.
During its operation, the scheme generated a substantial income of INR 129.82 crores for the corporation while offering taxpayers an overall rebate of INR 8.55 crores. For the 15 days following the scheme's conclusion, the corporation is set to issue bills to those who did not participate.
The innovative rebate scheme offered a 10% discount to advance taxpayers for residential properties and a 5% discount for commercial properties. Furthermore, those who paid their taxes online received an additional 1% discount, incentivizing digital payments.
In total, 149,816 taxpayers availed themselves of the scheme, contributing INR 129.82 crores to the Municipal Corporation's coffers. A significant number of these taxpayers - 89,930 individuals - opted for the online payment method, paying taxes amounting to INR 81.94 crores and availing themselves of an INR 5.65 crore rebate. The remaining 59,886 individuals paid their taxes offline at various ward offices, contributing INR 47.87 crores and receiving an INR 2.90 crore rebate.
During this period, the Corporation also collected INR 20.59 crores in arrears, bringing the total income from the rebate scheme to INR 150.42 crores. Despite 8.20 lakh pending tax bills, the Corporation's tax revenue for the fiscal year 2022-23 exceeded expectations, with actual income of INR 600 crores surpassing the projected revenue of INR 520 crores.
The success of the scheme, particularly the widespread adoption of online payment, signals a positive shift towards digital solutions in the city's tax payment system.
