My son has got a flat by means of perpetual lease. Can the property be assessed and property tax be levied by the local authorities? Kindly advise the rationale behind levying tax.
Chennai
A perpetual lease is as good as a sale. The corporation or local body will assess and fix a value for the property and the tax payable would be determined. If any owner is aggrieved by the demand notice, he may file an appeal before the Taxation Appeal Tribunal if the property is within Chennai Corporation limits. Payment of taxes cannot be withheld for any reason.
