Kochi civic body to use Paytm for property tax payment
City corporation has decided to introduce a facility for paying various taxes, including property tax, through Paytm an e-commerce payment system. The facility will be introduced in 12 divisions in the central zone of the local body on an experimental basis from 2019-20 fiscal. The system would help residents pay taxes in a hassle-free manner, said deputy mayor T J Vinod. Paytm doesn't charge local bodies for availing the facility, but individuals would be charged 0.8 to 0.9% for transactions above Rs 2,000. The new facility would also help local body in cutting the cost on tax collection. It will save time of both the officials as well tax payers. As of now, 17 local bodies are collecting property tax and rent using the mobile app of Paytm, Vinod said.
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