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
Date:
More like thisRelated
PFRDA aims to raise non-govt NPS subscriber base to 35-40 crore in 5 years
Pension Fund Regulatory and Development Authority (PFRDA) on Friday...
Goldman Sachs, CLSA split on RBI rate outlook as inflation, growth debate heats up
Goldman Sachs Chief India Economist Santanu Sengupta and CLSA...
BRICS nations adopt joint declaration as India hosts industry ministers’ meet in Jaipur
The 10th BRICS Industry Ministers' Meeting, held under India's...
No UPI fee for customers, says FM Nirmala Sitharaman; MDR decision pending
Finance Minister Nirmala Sitharaman on Thursday clarified that UPI...