jamshedpur traders of the jugsalai market downed their shutters from 6am to 6pm on wednesday in protest against the state governments new holding tax structures sardar shailendra singh the convenor of holding tax payers association htpa which gave the wednesdays bandh call threatened to intensify the protests until the new structure is withdrawn jugsalai market also known as the wholesale market responded spontaneously to the bandh call as the traders of bata chowk dukhu market gudri market gareeb nawaz colony market and nagar palika bazar closed their business establishments a deserted jugsalai market in jamshedpur on wednesdaylending their support to the bandh singhbhum chamber of commerce and industry scci vice president mukesh mittal said the formula to decide the rate of holding tax for residential buildings on the basis of circle rate would spike up the rate of tax to a considerable extent this would put additional financial burden on the people amid inflation cpi ms jamshedpur committee said the small and moderate businessmen will suffer many problems under the new holding tax regime party district committee secretary jp singh said commercial building owners will pass on the hiked tax to the traders and businessmen running shop at the particular building investment consultant vijay goyal who has an office on rent in a commercial building at kadma said commercial holding tax will cost four times higher than the present one mango flats and residential society owners association mfrsoa president sushil singh said they would meet state health minister banna gupta olidih resident entrepreneur sanjay kumar said the residents will have to pay an additional tax that will vary between 15 and 25 under the new regime