Issue of P S V permits - lease agreement.

PSV permits are issued to companies to ferry their staff from their homes to office and for return.

There are companies which may not have their vehicles. In such cases the companies can take vehicles standing in individual's name on lease, and we can issue psv permits to such a vehicle.

It works like this.The owner should enter into a lease agreement with the company and with the copy of the agreement he can submit form 34 to the office with fees and the office can enter the lease agreement in the RC book.Like Hire purchase we can also make lease agreement. Even if the vehicle is with HP agreement there is no bar to enter the lease agreement as lease and hire purchase are entirely different.

After that the application for the permit shall be made by the company and we can issue the permit to the company with the above vehicle.

Points to be noted
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1. vehicle shall be in anyone's name, but lease agreement must be entered in the RC book.
2. permit should be in the name of the company.
3. tax as usual for psv permits.

Refer:- Letter from Government of Tamil Nadu in MS 799 dated 3.9.1992 and also Endt from Transport Commissioner in 94864/A4/2001 dated 31.10.2002