I'm considering gifting an EV to my father and need assistance with understanding the tax rebates and central and state (Uttar Pradesh) subsidies available.   I am aware of the ₹1.5 lakh tax deduct...

I'm considering gifting an EV to my father and need assistance with understanding the tax rebates and central and state (Uttar Pradesh) subsidies available. 

I am aware of the ₹1.5 lakh tax deduction under section 80EEB for interest on EV loans. But I read somehwere the loan sanction date should be prior to April 2023. 

Are there any other benefits I should know about?

Understanding Tax Rebates and Subsidies for an EV in India

Product Designer

Understanding Tax Rebates and Subsidies for an EV in India- Grapevine

Welcome to Personal Finance's Private Community

so I've taken an education loan worth 20 Lakhs, 10% p.a. interest

will graduate next year (24) and wanted to know how do i maximize my tax savings due to my ed loan 

if you guys have any other ideas to save taxes apart from this, please tell in the comments, thanks!

save taxes by education loan

Quantitative research

Moving from SF Bay Area to Bengaluru next month. Planning to buy a scooter for commute. Cars don’t make sense based on current traffic issues
What are the best options to buy? Daily commute around 12 kms 

Would it make sense to buy a new one or a used one in India. If EV, how accessible do the Bangalore folks feel about charging infrastructure. Which one gives more value for your bucks. TIA.

Which Scooter(EV/Petrol) to buy in Bengaluru?

Founder

Welcome to IT Company Discussion's Private Community

Guys my ctc is 8.5 LPA could you please suggest which tax regime is best.. Assume I won't be taking any tax deductions.

Which regime is best best?

Consultant

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

What's the edge they have over Chinese EV cars. Elon visiting India also seems to be a desperate move to show growth

Given the latest layoff news and betting highly on robo taxies, feels like it's over for the quite arrogant leader and his company

Does Tesla really has a future?

Product Manager

Welcome to Indian Startups's Private Community

It's quite exhaustive and detailed 
https://growthx.club/thesis/ev?utm_source=substack&utm_medium=email#ev-value-chain

https://growthx.club/thesis/ev

India's EV scenario Report

Associate Product Manager

how much would the net monthly take home be? how can i arrive at the final number myself? pls consider the old tax regime and standard 80c deductions; i also have a student loan worth 17-18 L @10% (i think i can get some deduction on tax on it)

net monthly takehome

I am joining new org with 17LPA, I just got to know that my tax slab will be 30%. I never had to think about it for last 2 years because i was with 3.75LPA since 2 years when my career began. How should i start to reduce my taxable income? I watched various yt videos and spoke to some close acquaintances but im not able to understand how to proceed

How to save money on taxation?

Software Engineer

Which is better old or new tax regime if falling in the 30 % tax bracket?

Old regime vs new regime?

Welcome to Office Gossip's Private Community

Hi everyone,

Currently working in Mahindra and Mahindra, ask me anything.

Ask me anything about Mahindra Automobile!

Product Owner

Govt of India is best at killing Middle Class. What percentage of your total CTC did you pay in tax. Income Tax department id the new Sahukar.

Percentage of Total CTC did you pay in tax ?

Analyst

I have very few knowledge on Tax. So sharing my queries here. Kindly guide me

In my Aug month salary slip I got to know about this.

Annual Income - 7,92,xxx (Without std. deduction)
Tot. Tax payable -  30,xxx
Tax deducted till date - 13,xxx
(Tagged to NEW TAX REGIME as of now)

If I increase my PF contribution for this year will this works for saving tax (New Regime)?

Or any otherway is there to get back by amt means pls guide me in any type of Tax (old/new)

Thanks in advance 👍

Help on TAX Saving

Software Developer

How to pay 0 tax when income is around >= 12 LPA?

Data scientist

Write down all your problems in the comments and let some random stranger give you advice.

Start commenting.

Advice - Thread

So I am going to come in a tax slab from next month, probably will make 80k+ per month. In this case where I should invest for my future safety. As I am only male child of my parents, so it's my responsibility to earn and save so that I could bring happiness in their life.

Please guide me from your personal experience and challenges that you gone through in your past.

How to invest and save taxes

Test engineer

One of my uncles (50 years old) has to pay Rs 37K tax every year, he is the sole earner in his family, he is a very simple and honest middle class man trying to provide for his family, is there any way that he can save that tax? They live paycheck to paycheck, As the tax amount is a lot for him, pls help with what can be done? I’ve seen people who earn hell lot more paying 0 taxes, pls help
Home EMI= Rs 25K per month
Family members= 6 (Wife, 2 daughters, Parents)
No Mutual fund SIP, no health insurance, no knowledge of how to save taxes

Help! Rs 38K income tax on 8.8L CTC (50 yrs old middle class man)

I want to know the actual cost of running a car over a 10 year period. I know there are a lot of videos and finfluencers online that say that electric cars are cheaper. But given they need battery replacement after a period. Which is the most economical option?

The actual cost of running a car. Electric vs Petrol vs Hybrid

Welcome to News Discussion's Private Community

- Transport minister Nitin Gadkari announced that India's EV market will be worth INR 20 Lakh Cr by 2030.
- Gadkari is optimistic that India will become the largest global automotive manufacturing hub, with the PLI scheme boosting battery cell production.
- The Centre plans to launch the third version of the FAME scheme soon.
- Gadkari predicts that annual EV sales will reach 1 Cr by 2030, creating 5 Cr jobs.
- Despite challenges like high prices and limited charging infrastructure, EV sales have been rising due to government incentives. 

 Source: [Inc42](https://inc42.com/buzz/annual-ev-sales-to-touch-1-cr-mark-in-india-by-2030-nitin-gadkari/)

India's EV Market to Hit 1 Crore Annual Sales by 2030: Gadkari

Journalist

Following are the few reasons that came into my Insites 

1. Biofuels would be far cheaper + inhouse production

2.Electric Cars might be like walking Bombs with Batteries dying early 

3.Low Milage 

4.EV buyers are younger population who drives occasionally 

5.Indian Roads 💀 not for 🌊 Flooding India Pothole Roads 

6.Insuarce Issues as mentioned below

I am Planning to Buy EV Car but Why EV sales are going Down World Wide?

I paid 4.8L Tax and my CA somehow managed to get back 30k refund. Wanted to know if people here in similar bracket or higher .. Have managed get higher refund.
I chose old slab coz the greytHR portal said I’ll save more in that.
I don’t have a housing loan,
I have shown HRA , insurance and mutual funds

Understanding Tax Rebates and Subsidies for an EV in India

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