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The Telangana government has expressed its grief to motorists who are struggling with the actual petrol and diesel prices. The government has issued orders raising the life tax on vehicles. This will increase the life tax on newly purchased bikes and scooters. At present, life tax is levied at 9 per cent if the vehicle is priced below Rs 50,000 and 12 per cent if it exceeds Rs 50,000. For the first time since the formation of Telangana, the Motor Vehicle Taxation Act, 1963 made slight changes in the vehicle life tax in Schedules 3, 6 and 7. The new life taxes will come into effect from Monday, Special Secretary to the Government Sunil Sharma said.
In the case of new non-transport vehicles, 13 per cent if the price of the vehicle is less than Rs. If the price is 18 per cent life tax is set by the authorities.
Within two years of purchase of the same vehicle .. 12 per cent if the price of the vehicle is less than Rs. 5 lakh, 13 per cent if less than Rs. 5 lakh to Rs. 10 lakh, 16 per cent if less than Rs. If the price is more than Rs 20 lakh, 17 per cent life tax has to be paid. Life tax decreases by one per cent on the price of the vehicle as it increases each year the vehicle is purchased.
12 years after purchase of the vehicle. If the price is more than Rs 20 lakh, 11.5 per cent life tax has to be paid.
The post Telangana: Government shocks motorists .. Life tax hike appeared first on NTV.
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