Punjab News: The Punjab government led by Chief Minister Bhagwant Singh Mann has officially announced a two-month extension in the ‘Punjab One Time Settlement Scheme (OTS), 2025 for Recovery of Dues’. Earlier its last date was fixed as March 31, 2026, but now the last date for submission of applications has been extended to May 31, 2026.
8,000 properties belonging to tax defaulters identified
Announcing this here today, Punjab Finance, Excise and Taxation Minister Advocate Harpal Singh Cheema stressed that this extension will provide an important and last opportunity to the eligible taxpayers to settle their dues and get huge financial relief. He further warned that the tax department has already identified 8,000 properties belonging to tax defaulters, and these will soon be auctioned if they do not immediately avail this last opportunity.
Total revenue from encouraging participation…
Sharing information about the latest progress of this initiative through a press statement issued here, Finance Minister Harpal Singh Cheema said that the scheme has received an overwhelming and encouraging response across the state. He said, “So far, the tax department has successfully received 9,151 applications. Due to this encouraging participation, a total revenue of Rs 134.21 crore has been collected, which is a symbol of the confidence of the taxpayers in the present government and the continuous revenue collection. Additionally, this initiative has greatly benefited the businesses with the effective relief of Rs 446.17 crore provided by the state government.”
Highlighted the success of OTS schemes
Previous OTS Highlighting the success of the schemes, Finance Minister Cheema said, “2,487 applications were received and disposed under OTS-2 in FY 2022-23, while around 70,000 applications were disposed under OTS-3 in FY 2023-24. This historic participation reflects the huge potential of such schemes and indicates that a large section of eligible taxpayers are still in the existing Deprived of benefits under the 2025 scheme.”
Maximum participation of taxpayers
He said that the decision to extend the last date has been taken directly on the basis of feedback received from the field, with the main objective being to ensure maximum participation of taxpayers, reduce ongoing litigations to a great extent and further enhance revenue collection for the state exchequer.
Proactive identification of default cases
Despite granting the extension in the date, the Finance Minister gave a strict and clear warning to willful defaulters, saying that this would be the very last opportunity. “Taxpayers who do not join the scheme by the deadline of May 31, 2026, will face strict recovery action as per law. The tax department has already proactively identified a large number of default cases,” he said.
fair, transparent and efficient system
Finance Minister Cheema clarified that wherever necessary, the state government will strictly initiate the process of seizing and auctioning properties to recover the outstanding tax. Reiterating the broad vision of the Punjab government led by Chief Minister Bhagwant Singh Mann, Finance Minister Harpal Singh Cheema said that the state government is fully committed to providing a fair, transparent and highly efficient system for resolving old tax disputes.
Strong appeal to eligible taxpayers
He said, “This strategic initiative not only helps the business community in clearing their old dues but also strengthens the financial position of the state. All eligible taxpayers are strongly appealed to take advantage of the extended last date and settle their dues immediately to avoid any strict recovery action in future.
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