The Government have issued a letter in Letter No.353 Home (Tr.I)Department dated 20.2.2004 prescribing the guidelines for collection of tax for Transport vehicles converted as non transport vehicle.
Suppose if a tourist taxi registered on 20.2.2000 is surrendered to day then we have to collect the life tax applicable to non transport vehicle.,if the registration date of the vehicle happens to be any day after 1.7.98. We have to collect the life tax for the original value of the vehicle.
Only those vehicles which were originally registered prior to 1.7.1998, the option of paying annual tax is available. For others life tax is must.
Also refer circular No.21/2004
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