Car Purchase Vs Car Lease: Tax Benefits? |Holistic Investment

[@jabeshraja]

Thank you for explanation

[@HolisticInvestment]

You are welcome

[@BikashBiswalCHHUAPUA]

Can you please tell me how much in hand salary I will get in the below condition: Current salary: Take whom per month: 130000 Tax deduction per month: 33000 After a car lease of monthly rental 25k, how much do I get the salary per month?

[@HolisticInvestment]

Please consult your financial planner. We can also provide suggestions: You can book a Free Financial Consultation with one of our Financial Planners by using the following link: www.holisticinvestment.in/complimentary-financial-plan-consultation/

[@rajasatish8812]

After the car lease @25k/month, taxable income is 1656000. Assuming 20% tax rate, monthly tax payable is 27600. Take home salary would be 163000-25000(Lease EMI)-27600(Tax)=110400 (~apprx)

[@pandu4socity]

Once leasing period is over can i take the car ?

[@HolisticInvestment]

Yes

[@GajaVakra]

I went through many videos regarding Tax savings on this aspect, the thing which is very important and missing in all other videos is - “ cash in hand aspect” . Other videos are really misleading defecting that you will save money if you go for car leasing. However, people have to understand that it will definitely impact cash in hand and you will end up buying a car thinking you will save a lot of tax even though you don’t want it. !

[@HolisticInvestment]

Thank you for sharing your insight! You're absolutely right that considering the impact on cash flow is crucial when making decisions about tax-saving strategies like car leasing. It's essential to weigh the long-term financial implications and ensure that any tax-saving choices align with your overall financial goals and needs. Appreciate your valuable perspective!

[@gunasm16]

what if i cancel the lease in one year ?

[@HolisticInvestment]

Please consult your financial planner. We can also provide suggestions: You can book a Free Financial Consultation with one of our Financial Planners by using the following link: www.holisticinvestment.in/complimentary-financial-plan-consultation/