Hi All. I have been watching this thread and its really informative. I need your suggestion on whether to sell my car before coming to Bangalore or re register it in Bangalore. I will be moving to Bangalore from Hyderabad and it will be permanent. I own a 2013 Wagon R VXI model which has a good resale value. Since my vehicle is less than 2 years now, I would be charged 13% tax of 93% value of my car. My invoice value of the car was 480,000 INR approximate. Here is my tax calculation. Please correct me if i am wrong:
Tax is 13% since my car value is less than 5 lakhs.
13% of 480,000 is 62,400
Depreciating by 93% since car is less than 2yrs old = 58,032
11% cess on 58,032 = 6,384
Total Tax = 64,416
Please suggest should i pay this huge LTT and get is re registered in BLR or sell my car for approx 380,000 to 400,000 INR and get a new one say Celerio or stingray?
P.S: My office will bear LTT payment for one vehicle upto 50,000 RS. I will be bringing my TVS jupiter too as I need it for my daily commute.
Tax is 13% since my car value is less than 5 lakhs.
13% of 480,000 is 62,400
Depreciating by 93% since car is less than 2yrs old = 58,032
11% cess on 58,032 = 6,384
Total Tax = 64,416
Please suggest should i pay this huge LTT and get is re registered in BLR or sell my car for approx 380,000 to 400,000 INR and get a new one say Celerio or stingray?
P.S: My office will bear LTT payment for one vehicle upto 50,000 RS. I will be bringing my TVS jupiter too as I need it for my daily commute.