For instance, if your monthly lease rental is ₹30,000 and you additionally claim ₹8,000 for fuel and ₹7,000 for driver salary, the total car-related component becomes ₹45,000 a month. Annually, you save tax equal to your slab rates on ₹5.4 lakh of your total CTC. Say, your annual CTC is ₹24 lakh, at 25% slab rates under the new tax regime, you save ₹1.35 lakh in taxes.
A car lease in CTC helps reduce your tax outgo. Here’s how
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