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

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. Get the interest rate that is being levied over a period of time.

5. Get the year as well as the date from which this was brought in place.

6. Start filling the data from the interest rate followed by the rest of the details.

7. 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.	​Checklist​

Entity Specific Checklist

Not Applicable

Attachments

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Configurable Data Template - Interest Rates V1.xlsx

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9KB

Configurable Sample Data - Interest Rates V1.xlsx

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