Hyderabad: The Greater Hyderabad Municipal Corporation (GHMC) has decided to tackle instances of cheques bouncing by implementing a new mechanism in the collection of property taxes. Citizens will not receive property tax clearance until their cheques are realised.
Property tax is a major source of revenue for the GHMC. It has come to the notice of the corporation that many cheques bounce, especially towards the end of the financial year, due to paucity of funds. In the existing system, as soon as the GHMC receives a cheque, the status of property tax is marked as cleared in the database, and a receipt is generated even before the cheque is presented at the bank. If the cheque ends up bouncing, the transaction is reverted.
The GHMC has devised a new mechanism to keep such people in check. As per the new system, the status of property tax will be marked as cleared in the GHMC database only after the cheque is cleared by the bank. This will be done by integrating with the internal finance wing.
Once a cheque is submitted to the GHMC, the status of property tax will reflect that clearance is subject to cheque realisation. After the cheque is realised, the internal finance wing will send an instruction to the GHMC’s online property tax database.
It will also encourage citizens to opt for online payment, through the use of which the status of property tax will be updated immediately.
