The Punjab Government has announced a revision of the Motor Vehicle Tax rates for personalized vehicles, effective immediately. The updated tax structure is as follows:
Two-Wheelers:
Up to ₹1 Lakh: 7.5% of the actual price
Between ₹1 Lakh and ₹2 Lakh: 10% of the actual price
Exceeding ₹2 Lakh: 11% of the actual price
Four-Wheelers:
Up to ₹15 Lakh: 9.5% of the actual price
Between ₹15 Lakh and ₹25 Lakh: 12% of the actual price
Exceeding ₹25 Lakh: 13% of the actual price
These changes aim to streamline the taxation process for vehicle owners in the state.
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