ICHANDIGARH: The Chief Minister Bhagwant Singh Mann-led Punjab Government has officially announced a two-month extension for the Punjab One Time Settlement (OTS) Scheme for Recovery of Outstanding Dues, 2025. Originally slated to conclude on March 31, 2026, the final date for filing applications has been pushed to May 31, 2026.
Punjab Finance, Excise and Taxation Minister Advocate Harpal Singh Cheema made the announcement on Saturday, emphasizing that this extension provides a crucial, final opportunity for eligible taxpayers to resolve their pending dues and secure substantial financial relief. He further warned that the Taxation Department has already identified 8, 000 properties belonging to tax defaulters, which will face auction soon if they do not promptly act on this last chance.
Sharing the updated progress of the initiative in a press communique issued here, Finance Minister Harpal Singh Cheema highlighted the strong and encouraging response the scheme has garnered across the state. He said, "To date, the taxation department has successfully received 9, 151 applications. This enthusiastic participation has translated into a total revenue realization of Rs. 134.21 crore, an indicator of steady revenue mobilization and high taxpayer confidence in the current administration. Furthermore, businesses have benefited immensely from the initiative, with the state government having already extended waivers amounting to an impressive Rs. 446.17 crore."
Reflecting on the success of earlier settlement initiatives, the Finance Minister Cheema said, "While OTS-2 in the fiscal year 2022–23 saw the receipt and disposal of 2, 487 applications, OTS-3 in the fiscal year 2023–24 recorded the disposal of approximately 70, 000 applications. This robust historical participation underscores the significant potential of such schemes and suggests that a large segment of eligible taxpayers has yet to avail themselves of the benefits under the current 2025 scheme." He said that the decision to grant this latest extension was driven directly by feedback from field formations, with the primary objectives of maximizing taxpayer participation, significantly reducing ongoing litigation, and facilitating enhanced revenue realization for the state treasury.