Category Archives: Bangalore

BPLR down by 50 bps for State Bank of India

SBI had reduced its Benchmark Prime Lending Rate by 75 points in January 1, 2009 and SBI had reduced deposit rate by 25 points across all maturities to bring down cost of funds. SBI cuts its BPLR rate by 50 basis points effective from June 29, 2009.

SBI rate cut comes within a fortnight of Finance Minister Pranab Mukherjee asking state-owned banks to soften rates. Other lenders will soon follow SBI and borrowers will get car loans, home loans and other loans for cheaper rate.

SBI has recently reduced its deposit rate by 25 points. The rate of deposit for 1000 days tenure was reduced from 7.75 to 7.50 per cent, for deposit 2 years or less than 1000 days the rate was cut from 7.50 to 7.25 per cent. The rate for deposit from 1 year to less than 2 years was reduced from 7.25 to 7 per cent and the deposit for tenure of 181 days and less than one year the rate is 6.25 against 6.50 per cent.

The new rate for BPLR will be 11.75 per cent against current rate of 12.25 per cent. This will be effective from June 29, 2009.



Opportunity To File Revised Returns For Property Tax 2008-09

Deadline for property tax payers for filing property tax 2008-09 is on June 30. It is mandatory for all tax payers to pay property tax irrespective of whether or not they hold khata. Property Index Number (PID) can be known from BBMP website. If you have made mistake in calculating your property tax 2008-09, you can file your return now.

You can file your revised return at BBMP help center and get the acknowledgment of the same. BBMP tax calculator will enable you to calculate your property tax and interest payable for delayed payment. Second installment of property tax 2008-09 can be filed without fine or penalty up to June 30.

To avail the services from BBMP, tax payers have to make prompt payment and furnish the details of tax paid. Therefore ensure prompt payment to enjoy the benefit or services offered by BBMP to its citizen.

All help centers of BBMP will work from 9:30 Am to 12:30 Pm and 3:30 Pm to 7:00 Pm on all working days

June 30 last date for property tax 2008-09

Pay your property tax in time and avoid penalty or fine. June 30 is the last date for paying property tax 2008-09. Property owners can avoid paying penalty or fine on property tax if paid on or before June 30.

If property owners had made any default in first installment for property tax 2008-09, property owners will have to pay 2% interest per month. This is right time to file your return if you have wrong amount. Property owners who made wrong payment can file their return without any penalty or charges on or before June 30.

You can see property owners in Bangalore rushing to pay their property tax 2008-09 in June. If the property owners make any default, BBMP will charge penalty of double the property tax or issue distress warrant to attach movable property in the house towards property tax.

Property owners can make payment of property tax 2009-10 from July 1. July 30 is deadline for availing rebate for tax paid in full for 2009-10. August 30 will be last date for paying property tax 2009-10 without fine or penalty.

Pay Your Property Tax or Pay Double