The percentage of NCB earned on a vehicle owned by an institution during the period when it was alloted to and exclusively operated by an employee should be passed on to the employee if the ownership of the vehicle is transferred in the name of the employee.

This will however require submission of a suitable letter from employer confirming that prior to transfer of ownership of the vehicle to the employee,it was alloted to and exclusively operated by the employee during the period in which the NCB was earned.