Big Good News For New Car Buyers: Get 10-20% Tax Rebate! Check Terms & Conditions

Tax Rebate On New Cars: The Delhi government will provide a 10-20% tax rebate to buyers of new vehicles who opt to scrap their old ones.

Tax Rebate On New Cars In Delhi Against Scrapping Old Vehicles: The Government of India introduced a vehicle scrappage policy a few years ago to remove old and unfit vehicles from the roads. The policy offers benefits to vehicle owners who choose to scrap their old vehicles and buy new, modern ones. Now, the Delhi government has also approved tax rebate benefits on new vehicles for those who scrap their old ones.

The Delhi government will provide a 10-20% tax rebate to buyers of new vehicles who opt to scrap their old ones. Chief Minister Atishi has approved the incentive scheme to promote scrapping of old vehicles and it will be notified soon, the statement said.

"The government will incentivise those who opt for the scrapping of their old vehicles, through rebate in motor-vehicle tax on buying new vehicles within three years," said the Delhi government statement.

The tax rebate will be 20 per cent on the purchase of non-commercial CNG and petrol vehicles, 15 per cent on the purchase of commercial CNG and petrol vehicles, and 10 per cent on diesel vehicles, it said. The policy is aimed at removing old and polluting vehicles on the road by promoting the use of less-polluting ones having upgraded emission standards, it said.

Under the scheme, one would have to obtain a certificate of deposit on scrapping their old vehicle at a registered facility. The certificate will have to be submitted at the time of registration of the new vehicle within three years, to avail the tax rebate, it added.