Punjab points notification concerning MV tax rebate on buy of latest automobiles by house owners of scrap automobiles
CHANDIGARH: The Punjab Authorities has issued notification to offer motorcar tax rebate on buy of latest automobile by the proprietor of scrapped automobile.
Disclosing this right here right this moment, Transport Minister S. Laljit Singh Bhullar stated that in consonance to the Scrapping Coverage launched by the Ministry of Street Transport and Highways, concerning registration of latest automobiles, the Punjab Cupboard has determined to offer Motor Car Tax rebate of as much as 15% to the Transport Car Homeowners and 25% to Non-Transport Car Homeowners in Motor Car Tax below Part-13 (3) of the Punjab Motor Car Taxation Act, 1924.
He stated, as per this surroundings pleasant resolution, the house owners of transport automobiles can benefit from this scheme as much as 8 years from the registration of their automobiles and house owners of non-transport automobiles as much as 15 years from the registration of their automobiles. When the automobile is scrapped by the automobile proprietor, the automobile will probably be bought by the scrapper who will concern a “Certificates of Deposit” to the automobile proprietor, which will probably be deposited with the involved Licensing Authority and the proprietor of the automobile will get the due exemption on Motor tax.
He stated, scrapping of the transport automobile as much as 8 years after registration is optionally available.