Life tax and road tax
gaddala ramesh (163 Points)
17 April 2023
what is diff between life tax and road tax
1 Replies
CA Rakesh Ishi
(Working at Private Company)
(8202 Points)
Replied 19 April 2023
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Life Tax: Also known as the registration fee, it is a one-time tax that is levied on a vehicle at the time of its registration. This tax is based on the cost of the vehicle and varies from state to state in India. Once paid, the life tax is valid for the entire lifespan of the vehicle and there is no need to pay it again.
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Road Tax: Also known as the motor vehicle tax, it is a recurring tax that is levied on vehicles for using the roads in the country. This tax is based on factors like the type of vehicle, its age, engine capacity, and fuel type, and it has to be paid annually or at regular intervals as determined by the state government.
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