The North Delhi Municipal Corporation is expected to roll back the hike in tax rates of non-residential properties which were hiked from 12 per cent to 20 per cent and refund the excess tax paid by the people.
"We had said there would be no additional tax burden on the people. The hike was announced by the officials and we will roll it back," said Standing Committee chairman Ram Kishan Singhal.
Earlier, NDMC had included the revised tax rates for commercial establishments over 100 square yards in non-residential areas in the schedule of taxes, raising the tax rate from 12 to 20 per cent.
Asked how the hike was passed by the Corporation, Singhal admitted to a "lapse" on the part of the councilors.
"It is true that this is also a lapse on our part. I feel guilty about it because we had promised not to raise any taxes. Therefore, the Standing Committee will rectify the situation and later return the excess tax paid by the people," he added.
This comes days after opposition Congress walked out of the House meeting demanding an immediate roll back.
Meanwhile, the Corporation will unveil its new trade policy in the coming days which is expected to simplify the rules of application for securing a licence for conducting any business, among others.
