What is Property Tax?

Property Tax is a mandatory registration required to start a business in India. It is a document that allows an applicant (who wants to start a business) to commence it in a particular trade in specific area or location. Respective State Government is authorized body that issues trade licenses that assures an entrepreneur to start a business. Property Tax does not allow an applicant to trade in one particular business only and does not pass any kind of property ownership.

Property Tax is regulated by Municipal Corporation acts by the State Government and issued after consulting with departments like health, fire, engineering, etc. Set of rules, regulations and guidelines are to be followed by an enterprise that gets a trade license. Trade License affirms that an enterprise or business is not conducting any unethical methods or using hazardous items that may harm people living in defined area or locality. Its issuance ensures government to regulate trade activities across the nation.

What is Property Tax?

The validity of Property Tax is for 1 year and can be renewed every year. The certificate can be renewed between Jan 1 Jan to March 31st.

The applicant needs to submit the renewal application within 30 days from the date of expiry of Property Tax certificate.

Eligibility

• Must be a citizen of India
• Minimum age of the applicant should be 18 years
• No criminal records under the name of the applicant
• Business must be legally acceptable
• Application needs to be submitted before 30 days from the start of business

Eligibility

It generally takes approximately 7-10 working days in the processing of trade license application in major cities and takes a bit longer in small cities.