The city Corporation wants the government to withdraw its notification putting curbs on collection of property tax from an information technology (IT) major that has established base in the Special Economic Zone.
The Corporation standing committee on Finance met last week and decided to apprise the government of the need to withdraw the notification.
Deputy Mayor G. Happykumar told The Hindu that the government had issued a notification in 2004 under Section 200 and 207 of the Panchayat Raj Act banning the collection of property tax from the IT major.
Due to the government decision, the Corporation had lost Rs.14.98 lakh annually as property tax from the IT major. Now, several IT companies had established their units, and the civic body was unable to collect the property tax in view of the government decision, he said. A resolution urging the government to withdraw the notification would be placed in the next Council meeting, he said.