[hserus]

Originally Posted by Mithrandir

I need some advice urgently.I am about to sell my 4 year old car for Rs 4 lakh. Car is registered in KA and wil be sold in the same RTO jurisdiction in which it is registered. My question is, after the sale, will I be liable to pay any Income Tax or sales tax?. I searched the previous posts in the forum but most of them are old or were not very clear. Can anyone update me about the current (FY 2016-17) taxation rules on used car sale?. Thanks in advance.

1% tax collected at source for cars over 10 lakh. http://auto.economictimes.indiatimes...mplex/52422744

[vpillai]

Hi Guys,

I checked with a used car dealer here to sell my car and they said they will keep the car in my name for one month even after I sell the car to them. If they are able to find a customer with in 30 days, car will be registered to his name and if they are not able to find a customer within 30 days they will register the car to themselves. But, I do not want to be in a situation where somebody else drives the car for a month while I'm the legal owner. My question is, is it not possible to de-register the vehicle and give to the used car dealer? So that I can live in peace and also the dealer doesn't need to worry about the price getting reduced due to more number of owners in the RC. A win-win situation. I'm just curious if this method is possible?!!

Thanks.

[Durango Dude]

I'm not able to let go of my Elantra after changing discs, calipers and pads, it's running beautifully, only thing is the fuel filler lid has lost one hinge to rust and it's keeps clattering around as I drive and after looking after it well for 11.5 years a coconut fell on the bonnet and there's a dent, just missed my left head light and being silver it doesn't show that much. The dent doesn't show that much due to the color.

This is mage was taken on 22-02-2017 when I took my daughter for her DL test to RTO Kottiwakkam. The most faithful steed I've owned. Would you call it a 11.5 year old car. Just look at her! I haven't even removed the original inspection stickers on the windshield, haha, she's as stock as it gets!!! These images are after the coconut fell on the bonnet, it doesn't show that much in the images does it! Just click on the image and have a closer look!

[Mr.Boss]

Originally Posted by vpillai

I do not want to be in a situation where somebody else drives the car for a month while I'm the legal owner. My question is, is it not possible to de-register the vehicle and give to the used car dealer? So that I can live in peace and also the dealer doesn't need to worry about the price getting reduced due to more number of owners in the RC. A win-win situation. I'm just curious if this method is possible?

Seen people in Maruti (and other) A.S.S drive customer vehicles for test drive with additional plate (Red background with white letters) placed over the dashboard when the car is taken outside their premises. Is it same as the trade plates of test cars (by OEs)? If so, I hope the owner of the trade plate will have the responsibility of any mishap on the road is my understanding and they hold a separate insurance as well. Someone please confirm it.

If the above statement is valid, can used car dealers have such an option?

[vigsom]

Originally Posted by Durango Dude

I'm not able to let go of my Elantra

fuel filler lid has lost one hinge to rust and it's keeps clattering around

a coconut fell on the bonnet and there's a dent, just missed my left head light and being silver it doesn't show that much. The dent doesn't show that much

The car looks smokin' hot and warrants to be with you for longer.

I have found the old Elantra ride quiet and comfortable. Corrosion is a common issue with Hyundais, though and needs constant monitoring.

I am able to see a slight mismatch in the bonnet and left fender panels in the first photo, but nothing in the rest. Is that the dent you're referring to?

[vpillai]

Hi Guys,

A quick question. If the buyer's address falls under the jurisdiction of another RTO than the seller's (but both in same state), at which RTO the original RC book and other documents to be submitted for transfering the ownership?

Thanks.

[Mr.Boss]

Originally Posted by vpillai

A quick question. If the buyer's address falls under the jurisdiction of another RTO than the seller's (but both in same state), at which RTO the original RC book and other documents to be submitted for transfering the ownership?

Obviously at the Buyer's RTO, even if it fall's out of the state.

[vpillai]

Originally Posted by Mr.Boss

Obviously at the Buyer's RTO, even if it fall's out of the state.

Thanks for the info. But, how do I make sure that he does the transfer without fail? His location is almost on the other side of the state and I cannot go there to followup on that.

[Mr.Boss]

Originally Posted by vpillai

Thanks for the info. But, how do I make sure that he does the transfer without fail? His location is almost on the other side of the state and I cannot go there to followup on that.

Vehicle RC status can be tracked in this site
https://parivahan.gov.in/rcdlstatus/

To make things simple, get the signed copies (photocopies) of transfer forms (and related documents including the ID proof of buyer) and mail / register post them with a cover letter stating the sale of vehicle from xxx date to Mr.yyy to both the RTOs.

[rakesh_r]

Have a general query, will the RTO accept only the forms distributed by them or we can download and take a print from the website?

[hserus]

Originally Posted by rakesh_r

Have a general query, will the RTO accept only the forms distributed by them or we can download and take a print from the website?

Feel free to download. The RTO doesn't sell forms, the various agents and petty shops located in and around the RTO will sell poorly printed forms.

You can even get fillable PDFs online, that you can use to type in the form data on your PC and then print / sign it. http://finotax.com/form/rto/

[condor]

On a lighter note: Would this help ?

[Kaboooooom]

Hi,
This is very helpful, but I am not able to find anything regarding trace-ability (or explaining) of the money from the Buyers end. Please help.

1. Husband (H) and Wife (W) want to sell their Car (C). They contact a Dealer (D) who finds a Buyer (B).
2. The car is registered in the name of W however she is not really in the picture, the best you can talk to H.
3. Now, it was explained to B that Signed Transfer of Ownership forms will be handed over to B with signatures of H so he is safe etc. However D insists that the payment be made to D.
4. B is agreeable to the idea that he will be paying D an amount A=(X+Y) and D will give X to H&W and keep Y for himself.
5. Now the big question for B is, how will he explain (or establish) that he paid A to D to buy C which is registered to W. Had the amount A was paid to W (account transfer or cheque) and car was transferred from W to B, it would have been clear, but that is rarely the case. Involvement of D is usual (and B doesn't have a problem with that).

Summary Query*: What can B do to ensure s/he can later establish that he bought car C , registered to W by paying amount A to dealer D.

*As per present information, authorities are more interested in incoming income and not outgoing money, however, such a scenario might very well exist where this really becomes an issue** for B.

[hserus]

Originally Posted by Kaboooooom

Summary Query*: What can B do to ensure s/he can later establish that he bought car C , registered to W by paying amount A to dealer D.

*As per present information, authorities are more interested in incoming income and not outgoing money, however, such a scenario might very well exist where this really becomes an issue** for B.

Don't buy such a car where there is more than one level of distance between you and the actual owner. The chances are high that it might be caught up in a court case, or stolen etc before turning up in the used car market.

[Kaboooooom]

Er... No offence, but that really does not answer my query. Please note, I am looking for specific information on how to establish clearly about the fact that Buyer B bought Car C, which is Registered in the name of W, by paying Amount A, to Dealer D.

If tomorrow D turns out to be a dealer of something illegal in state P, and is being investigated. P Police asks B, what did he pay D amount A for? How will B provide a clear proof?

I dont think affidavits are of much value. I was told there is something called a cash receipt with a revenue stamp, but not clear about it. Also, wouldnt that also require address and ID proof of D to be of any value?