The news is for the people of Delhi ie Delhiites. If you live in Delhi and are planning to buy a new car, now is not the time to think but to take action. That is, you should buy a car soon. We are saying this because the Transport Department of Delhi Government has recommended to increase the road tax on vehicles. If this recommendation is approved then the cars will become costlier.
Commercial vehicles will become expensive
The news agency has clarified quoting official sources that the Transport Department has sent this proposal to the Finance Department to increase the road tax. A decision on this decision can be taken soon. The categories of vehicles on which the department has recommended hike in road tax include commercial vehicles along with hatchbacks and SUVs. After the proposal is approved, the Transport Department will prepare a plan on it. The department has set a target of raising Rs 2,000 crore from taxes and duties in the financial year 2022-23.
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Right now road tax is levied from 4% to 12.5%
Road tax on private vehicles in Delhi ranges from 4% to 12.5%. Tackle depends on the model, fuel type and price range of the vehicle. At the same time, if the car is taken in the name of a company, then it increases to 25%. Road tax will also be increased on the same basis.
EVs will continue to get tax relief
The Delhi government had announced its Electric Vehicle Policy in 2020. Under the policy, both electric two-wheelers and electric four-wheelers are exempted from road tax. The Delhi government has set a target of 25% new electric vehicle registration by 2024. With the help of this, she wants to control the pollution spread by fuel vehicles in Delhi. However, the registration of electric cars is getting less compared to electric two-wheelers right now.
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Government is also giving incentive on EV
Two-thirds of the new vehicle registrations in Delhi comprise two-wheelers (motorcycles and scooters). In which the bikes in the 110-125cc segment and the scooters in the 90-125cc segment are the first choice of the people. The Delhi government is also giving an incentive of up to Rs 5000 per kilowatt of electric vehicle. At the same time, an incentive of up to Rs 30000 is also available depending on the battery capacity of the vehicle.