New Delhi, December 9: The cash-strapped East Delhi Municipal Corporation on Wednesday proposed three new taxes in its annual budget, including a professional tax and a betterment tax, to augment its revenue. Additional Commissioner Alka R Sharma presented the budget, in which an education cess of five per cent of property tax has also been proposed.

North and South Corporations, budget for both of which were presented in the last two days, have not proposed any new taxes. The EDMC in a statement said, a "professional tax at Rs 100 per month for those earning more than Rs 5 lakh a year; and Rs 200 per month for those earning more than Rs 10 lakh per month," has been proposed in the budget. Also Read | Nave Jivit: Heart, Liver, Lungs, Kidneys of a Brain Dead Accident Victim Transplanted on Recipients Under Goa Initiative.

A betterment tax (for enhancement of property value due to public infrastructure development) at 15 per cent of property tax, has also been proposed, it said.

A total revenue of Rs 50 crore is expected from these new taxes, it said "Arrears of 4th DFC (Delhi Finance Commission) fund devolution is expected and included in the budget," the statement said.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)