Living in Delhi is getting costlier day-by-day. Government of Delhi Sheila Dixit announces the increase of tax without minding. he new road tax rates will be applicable after a notification is issued and marketers feel there could be a rush of consumers planning to buy a vehicle before the new rates come into force. The Delhi government’s decision to increase the circle rates might prompt the Municipal Corporation of Delhi to revise its property tax rates upward too.
The decision taken by the Delhi Cabinet, two-wheelers costing up to Rs 25,000 will be charged the existing rate of two per cent while two-wheelers in the price range of Rs 25,000 to Rs 40,000 will attract a road tax of four percent.
Two-wheelers above the price band of Rs 40,000 will be charged six per cent road tax. For cars costing up to Rs 6 lakh, the tax has been doubled to four per cent from existing two per cent, while the cars in the price band of Rs 6 lakh and Rs 10 lakh will attract seven per cent road tax. 10 per cent road tax will be levied on cars costing above Rs 10 lakh.
Price tag between Rs 6 lakh and Rs 10 lakh will need to pay 7% road tax and cars costing above Rs 10 lakh will attract 10% road tax as compared to 4% at present.
The circle rates have been increased by up to around 200% in certain areas, the property tax will be revised by around 100% in these areas. The introduction of unit area method for calculation of property tax, the tax used to be levied on the basis of the value of the property.
How much TAX government will impose on us?
Common man will be able to buy a car or house in future in Delhi?