Tax Rate

Introduction

Taxes are calculated based on the type of property and differ for each type.

For example, a residential property could have a different rate than a non-residential property, which could differ from year to year.

The tax could be a general property tax or a new type of tax introduced.

Data Table

Sr. No.

Tax Head*

EffectiveFromFY*

Percentage*

Sr. No.

Tax Head*

EffectiveFromFY*

Percentage*

1

General Tax (Residential)

2019-20

10

2

General Tax (Non-residential)

2019-20

9

Note: The data provided is sample data.

Procedure

Data Definition

Sr. No.

Column Name

Data Type

Data Size

Mandatory

Description

Sr. No.

Column Name

Data Type

Data Size

Mandatory

Description

1

Tax Head

Alphanumeric

64

Yes

The type of tax and the property on which the tax is being levied

2

EffectiveFromFY

Numeric

(12,2)

Yes

The year from which the tax rate is being defined

3

Percentage

Numeric

(12,2)

Yes

The rate at which the tax is to be levied

Steps to fill Data

  1. Download the data template attached to this page.

  2. 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.

  3. In case of any doubt, please reach out to the person who has shared this template with you to discuss and clear your doubts.

  4. Gather the details for all the types of properties and the type of taxes levied on them.

  5. Start filling the type of tax and the property type from the first column and then start defining the rates and year of application.

  6. 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

Sr. No.

Checklist Parameter

Example

1

Make sure that each and every point in this reference list has been taken care of

Checklist

Entity Specific Checklist

Not Applicable

Attachments

1.Configurable Data Template - Tax Rate

 

2. Configurable Sample Data - Tax Rate