Introduction
This is the amount which is calculated on percentage defined and collected from citizen if failed to pay the property tax demand on time. It is also called late payment penalty.
Data Table
InterestRateperannum(In %)* | MinPenaltyAmount* | FlatAmount*rate | minAmount | flatAmount | maxAmount | FromFY* | PenaltyStartDate (DD/MM)startDate* |
18% | 200 | 120 | 20000 | 2014-15 | 01/01/01 |
Procedure
Data Definition
Sr. No. | Column Name | Data Type | Data Size | Mandatory | Description | |
1 | InterestRateperannum(In %)rate | Numeric | (12,2) | Yes | The interest rate percentage. | |
2 | MinPenaltyAmountminAmount | Numeric | (12,2) | YesNo | Min amount of interest penalty leveidlevied. | |
3 | FlatAmountflatAmount | Numeric | (12,2) | YesNo | The flat amount which is leveidlevied. | |
4 | maxAmount | Numeric | (12,2) | No | The maximum amount which could be levied. | |
5 | FromFY | Numeric | (12,2) | Yes | The year from which the interest rate begins. | |
5 | PenaltyStartDate (DD/MM)6 | startDate | Numeric | (12,2) | Yes | The date from which this penalty has to start.(DD\MM\YY) |
Steps to fill Data
Download the data template attached to this page.
Get a good understanding of all the headers in the template sheet, their data type, size, and definitions by referring to the ‘Data Definition’ section of this document.
In case of any doubt, please reach out to the person who has shared this template with you to discuss and clear your doubts.
Get the interest rate that is being levied over a period of time.
Get the year as well as date from which this was brought in place.
Start filling the data from the interest rate followed by the rest of the details.
Verify the data once again by going through the checklist and making sure that each and every point mentioned in the checklist is covered.
Checklist
The checklist is a set of activities to be performed one the data is filled into a template to ensure data type, size, and format of data is as per the expectation. These activities have been divided into 2 groups as given below.
Common Checklist
This checklist covers all the activities which are common across the entities.
Sr. No. | Checklist Parameter | Example |
|---|---|---|
1 | Make sure that each and every point in this reference list has been taken care of. |
Entity Specific Checklist
Not Applicable
Attachments
1.Configurable Data Template - Interest Rates
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2.Configurable Sample Data - Interest Rates
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