This project proposed for the corporation billing system for smart home using IoT. In this work we have two modules, one is prepaid electricity billing and other is prepaid water billing by using Arduino processor with IoT platform. First module is to minimizing the queue at the electricity billing counters and to restrict the usage of electricity automatically, if the bill is not paid. The project also aims at a system to find out the power thefts and other illegal activities. The work system adopts a totally new concept of “Smart Electricity”. The IoT based concept is used so that we can continuously monitor the consumption of power (in watts) and if it reaches the minimum amount, it would automatically alert the consumer to recharge through mobile phone. In this work Arduino processor is used to monitor and control the entire system model. The implementation of IoT will help better management, conservation of energy and also in doing away with the unnecessary hassless over incorrect billing in prepaid electricity module. Second module is to indicate the water level in water tank and automatic control of water flow and also prepaid water billing via IoT. Further the IoT will able to incorporate transparently and seamlessly a number of different devices.