Bhawani Mahapatra (Law Officer) 31 October 2016
As per the terms of agreement in a Hire Purchase agreement, the Financier repossess & sell the vehicle, if the borrower defaults the due for payment. In such a case whether the Financier is liable to pay the Tax to the Road Transport Deptt for the period the vehicle was with its possession. Pls advice in the light of MV Act r/w respective Taxation Rules.
Ms.Usha Kapoor (CEO) 01 November 2016
Yes! During the period the vehicle is in his posesion the financier has to pay road tax.If you appreciate this answer plase click the thank you burtton on this forum.
adv.bharat @ PUNE (Lawyer) 01 November 2016
No finance is not liable to pay tax to government since vehicle is in sellers possession.
A walk alone (-) 01 November 2016
Dr J C Vashista (Advocate) 02 November 2016
It is the responsibility/liability of registered owner of the vehicle irrespective of possession.
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