Photo Source: Babushahi Bureau
Punjab Cabinet reduces Motor Vehicle Tax on registered tourist vehicles in Punjab
Babushahi Bureau
Chandigarh, August 14, 2024: The Punjab Cabinet also reduced motor vehicle tax on registered Tourist Vehicles in Punjab State.
As the tax was very high compared to the taxes of registered vehicles in neighboring States, so the registration of Tourist Vehicles in Punjab State was very low but this move will reverse the trend leading to increase in revenue. The Cabinet also agreed to Levy Additional Road Tax by one more category for luxury vehicle which is likely to generate additional income of Rs. 87.03 crore. The Cabinet also approved to levy Green Tax on old Transport/ Non-Transport vehicles registered in the State to check environmental pollution.
GIVES CONSENT TO AMEND PUNJAB PARTNERSHIP (REGISTRATION OF FIRMS) RULES 1932
The Cabinet also gave consent to amend Punjab Partnership (Registration of Firms) Rules-1932 to implement the revised fees for services as contained in 'Schedule-l' under section 71(1) of the Indian Partnership Act, 1932 in line with the amendments made in the 1932 Act under The Indian Partnership (Punjab Amendment) Act, 2021 as published in the Punjab Government Extraordinary Gazette on 12.07.2022. The amendments in the Rule 11(A) of the Punjab Partnership (Registration of Firms) Rules, 1932, will pave way for the revised fees to be implemented in the state.