Team-BHP
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Hi All,
Can anyone tell me the basis of calculation of LTT to be paid for transfer of my Tata Sierra Turbo (originally registered in Jan-1998 in Kerala).
At Bangalore RTO (at KR Puram), they made me pay Rs.22070/-(twenty two thousand seventy) as LTT and threatened me that they can put penalty for the delay in paying road tax as by my own admission vehicle was being used for the last nine months in Bangalore. Though I managed to avoid paying 'penalty', I feel, tax calc has gone wrong. I am yet to submit the NOC for re-registration in KA.
As I do not have the invoice (am the third owner of my Sierra), tax calc was based on an invoice value of Six Lakhs.
Regards,
Viju
Mods : Wrong section
They have cheated you of 22070. If you try to sell it off, you can't recover that money back.
45% (depr) * 9% (tax rate) * 600000 = 24000
You got off lightly mate!
You should have asked them to keep the vehicle !! How much did you buy the Sierra for?
Frankly, LTT charged for registering second hand vehicle is way too high relative to the value of the car. I paid LTT of 30k for a 2004 Baleno in TN. But then Govt agencies don't look at market value nor can they in any practical situation.
The whole exercise was for the fact that I am gonna keep the vehicle for long term. Also do not want to feed to RTO checking/traffic police pocket money.
I bought the vehicle in engine reconditioned, painting and upholstery work done condition for 1.5Laks. And have changed all unreliable/old parts, tyres, etc and brought it to my satisfaction. So it costs a lot more to me.
Ajmat's calc almost matches RTOs, but I remember reading in papers that tax structure for old vehicles in KA was brought down in some recent budget.
@Viju,
Why don't you casually drop in at some other RTO & do a enquiry for a supposedly friend???
I shall do that as a next step
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