Hi,
I have an Axio 2007/2012 (1500 cc). It was leased and now fully paid off. Problem is that I want to sell it, but car broker is telling me that I will have to pay withholding tax, since the car will first be transferred in my name (due to NOC being issued in my name from the bank) and then it will be transferred in to buyers name and again Withholding tax will have to be paid. since withholding tax rate for this category is 50,000 its a big amount. can someone please tell me if this is correct or is there any other way to transfer the car directly into buyers name from bank's name.
Thanks...