Taking car on lease from parent company is good option or bad ? How does it save taxes on your hard earned money .
Your lease money goes out from pre-tax salary.
Think it of this way, if your pre tax salary is 100x, you get 70x post tax and then you will pay car EMIs from 70x itself. Assuming 10x, net saving will be 60x
In lease you’ll make payments from 100x, car lease is 11x, taxable income will become 89x. I hope you get the hints
Amateur car driver here. I was thinking of buying used cars. But the way second-hand cars are priced makes me question the whole logic of buying them.
Budget: Upto INR 6.5L Usage: Mostly City, 15kms + Outstation on Weekends
PS: We also...
I currently work in a tech startup in Bangalore. My company has a car lease policy that I can use to get tax savings on the car lease amount and the maintenance costs. Worked out the math and seems like I save 15% on a car's onroad cost ...
I'm a salaried person with about 50 L base pay + some interest income + capital gains from equity. I'm currently paying around 10- 11 L in income tax.
I'm following the old regime Claiming below major deductions Hra 80c Nps Political ...
Isn't tax also political party donation😅
