Over three years, purchasing a ₹20 lakh electric vehicle for business use will reduce the total taxable income by ₹15.68 lakh, resulting in a net cost of the car of ₹4.32 lakh (21.6% of its original cost).
"Due to this, the total taxable income of the business in these 3 years will be reduced by ₹15,68,000 and the net cost of the car will be ₹4,32,000 which is just 21.6% of the car cost."
