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How Employees save Tax on their Cars in India | Detailed

How Employees save Tax on their Cars in India | Detailed Explanation

#Employees #save #Tax #Cars #India #Detailed

“Taxation with CA Sahil Jain”

In this video, we’ve discussed all the possible tax benefits that an employee can avail under the Income Tax Act, 1961 with respect to a Car that he/she wishes to use.

The video will make you understand the scope of Sections 80EEB, 17(2)(iii) and 17(2)(iv) of the Income Tax Act in a practical…

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46 Comments

  1. ye sab chodo car whyra khrdty time i will hire a ca tell me kha milyge vo ca jo ye sab krwa saky agar vo bnda mere 6 .. 7 lakh bhi kam krwa deyta h toh i will pay him 10 to 20 k or we can disscuss on the table

  2. V Nice explanation. never thought it (taxation) would be easy to understand. Please suggest what if the employee is working remotely from a location away from Office (in a diff state). In that case can the employee still avail the car lease?

  3. Can you please let us know , what about the tax savings vs after 4 years of lease what happens with Employee, does he owns car, what is percentage saved and does heown or not ? if he has to buy same car what happpesn ?

  4. Hi Sahil

    Could you pls make a video on 3rd Tareeka that you mentioned in this Video. A back of the hand calculation of percentage savings would really be more than helpful as leasing companies pretty much take away most of the savings one make by opting for that option and it's rather beneficial to take a car from Company instead for Key Personnel.

  5. If we buy car for propretorship firm.. Shud be pay for individual tax or corporate tax?
    Also can we claim depreciation, interest on car loan, insurance, repair and maintenance cost to be exempted under pripretoeship firm? Pl guide.. I am confused over the same for proprietorship firm. Want to buy small car.

  6. II have opted for a Company Car lease program, tenure 5 years at an EMI of approx 48K (2200 CC, SUV, More than 4000MM Length). Kindly advise if it makes sense to buy back the car from Lease company, and the payable taxes and other components please 🙂

  7. Hello sir, thanks for the information…. what will happen suppose after the term eg 4 years, employee wishes to purchase the car and transfer from company registration to personal registration…how much will the employee need to pay for car purchase…

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