Car lease payments can be deducted from taxable salary, leading to lower income tax compared to car loan EMIs.
"So if I bought the car under car loan, these EMI is not deductible with my salary. But if I do it through car lease, it can be shown as a deduction on my salary. So I pay end up paying lesser income tax."
With a car lease policy that includes deductions for driver salary, petrol, and the lease itself, the total effective cost of a 70 lakh car over 4 years could be as low as 97,000.
"your car of this 70 lakh would be 97,000 to be precise."
