The Kochi City Corporation planned to introduce Paytm as the mode of payment to collect multiple taxes in the city including the property tax. Initially, this system will be introduced in 12 divisions of local body’s central zone from the next fiscal year i.e. 2019-20.
TJ Vinod, deputy mayor said that this is a step to make payment of taxes easier for the residents. He also informed that the Paytm app will not charge anything from the local body but the taxpayers will be charged 0.8 to 0.9% to carry out transactions above Rs 2,000 INR.
Deputy Mayor further said that the use of Paytm app will cut down the cost of tax collection as it will save time of both the civic body and taxpayers. At present, 17 local bodies are using the Paytm app for collecting property tax and rent.
He also informed that the same will be expanded to other divisions after the successful implantation of the practice in 12 zones.
Kochi is a major city of Kerala and its corporation is the most populous metropolitan area in the State. The city is administered by the civic corporation and is divided into 74 wards. The city corporation is formed by merging three previous corporations including the Fort Kochi, Mattancherry and Ernakulam.
The Greater Cochin Development Authority [GCDA] Goshree Island Development Authority [GIDA] are the two government-based agencies that look after the development of this city. However, the Kerala State Electricity board fulfills the power demand here.