Interest Rates
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 the late payment penalty.
Data Table
| Rate | Minimum Amount | Flat Amount | Maximum Amount | From FY* | Start Date* |
|---|---|---|---|---|---|
18% | 200 | 120 | 20000 | 2014-15 | 01/01/2019 |
The data given in the table is sample data.
Procedure
Data Definition
| Sr. No. | Column Name | Data Type | Data Size | Is Mandatory? | Description |
|---|---|---|---|---|---|
1 | Rate | Decimal | (12,2) | Yes | The interest rate percentage. |
2 | Minimum Amount | Decimal | (12,2) | No | Min amount of interest penalty levied. |
3 | Flat Amount | Decimal | (12,2) | No | The flat amount which is levied. |
4 | Maximum Amount | Decimal | (12,2) | No | The maximum amount which could be levied. |
5 | From FY | Decimal | (12,2) | Yes | The year from which the interest rate begins. |
6 | Start Date | Decimal | (12,2) | Yes | The date from which this penalty has to start. |
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 the 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 once 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
