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Whether a tax payer derives any right on the property upon payment of tax under Self Assessment Scheme?

No. Payment of municipal tax does not give a tax payer any ownership right over the property. All the buildings, lands falling within the jurisdiction of City Municipal Corporation / Town Municipal Council / Town Panchayat are liable for tax. There is no restriction that you should have Khatha, Mutation or Record of Rights to pay the tax and further the owners of any un-numbered property of the Municipal Corporation also have to pay the property tax and submit the particulars.