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

Mast explanation Elon! Aise hi nahi bane ElonMast ✈️

Private Equity

Software Engineer

Product Manager

Taking car on lease from parent company is good option or bad ? How does it save taxes on your hard earned money .

Car lease from company Good or bad ?

Car lease from company Good or bad ?- Grapevine

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 have a car lease policy in the company. So I guess I can try saving some tax there.

Does a Used Car make sense?

Sales Leader

Welcome to Indian Startups's Private Community

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 if I avail this. However if I leave the company, the math stops working out in my favour as the interest on lease is higher than the interest on bank loans. I want to understand which other tech companies have car leasing policies for me to be able to migrate if I decide to buy one.

Who else is having car lease policies out here?

Welcome to Personal Finance's Private Community

I have always been very intrigued about managing my own finances, never hired a CA till now. 

But every year when the tax return filing time comes I run into the same thought - Am I paying too much taxes, is there a way to plan it better?

wanted to get some information on how are you guys managing your taxes. 

- Do you guys have a dedicated CA? does hiring a CA helps? 

- How do you plan your finances? investing/Saving/restructuring to avoid paying the maximum taxes? 

- Some people setup a side business to set off some recurring losses/expenses to some extent. Does that work in long term? 

- In terms of wealth generation, what is your strategy? How much you are able to invest? What assets are good in your POV?

P.S. - Before someone comes up with you need to pay taxes so India can grow. I understand your POV but IMO, I am not able to get the benefits/infra in return, but I with all my heart believe in India’s growth story.

People with 50L+ taxable income, how much taxes are you paying? is there a way to reduce that?

Staff Engineer

Welcome to Office Gossip's Private Community

The post intends to accrue all the interesting perks employees receive under one roof

Does your company have a car lease policy? Are there any other cool perks that your company offers that are different from usual?

Growth Manager

Am plannjng to buy first car i.e SUV in Bangalore city.

Budget: 20L.
Variant: Mid or Top.
Transmission: Automatic.
Use: 70% City / Office and 30% for weekend outings.

Have taken test drive for Kia Seltos, Hyundai Creta and Toyota Hyryder.

Will buy through company lease (ORIX).

Have watchin YT videos on car reviews and really confused in Creta & HyRyder.

Am confused which to buy?

Open for suggestions…

Guidance new SUV

Technical Consultant

Hi, we are thinking of buying a new car in Bangalore and contemplating on whether to buy in cash or on loan. Considering the traffic conditions, we only want a small car like i10 or Tiago. We do have cash on hand to buy a decent hatchback or sedan upto 10L. It will not burn all our savings for sure. However, I have seen so many people still buying on loan even though they have cash.

Would be interested in knowing what makes more sense for others. Especially want to understand if there are other benefits of loan apart from credit building. Other suggestions on car models are also welcome! TIA.

Buying a car on Cash or Loan?

Cloud Consultant

What car do you own? And why that one?

A lot of my friends have opted for FBP benefits and they product bills for Car lease, driver’s salary, vehicle maintenance, etc which are not genuine. 
How safe it is? Request some insights here please. Because this FBP seems to help employees save significant taxes.

Flexi Benefit Plans or reimbursements

How much taxes can be saved on a 40 lakhs package? I am planning to hire a CA but looking for rough estimates here. I can structure my salary in any way I want and can invest in all schemes except housing loans.

Tax Saving

Performance Marketer

I need help deciding whether to be an Employee of a company or a contractor. 

When I am a contractor, I am basically stating my company is my client and am charging for my services. So responsibility of tax is on me. And I have heard that businesses can declare 50% of revenue of as expenses. Thereby saving alot on tax ( not that knowledgeable in this )

But being an employee, the company will handle the taxes ( I become an employee of an agency and my company hires me from this agency) 

Can you all please guide me what option should I take? How do freelancers handle their taxes?

Car lease from company Good or bad ?

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