Anushka Rathod Instagram – Buying a car?
This hack can save tons of money!!
Check out the whole reel to know!
Things to keep in mind.
– The 70-30 ratio is an assumed figure; you should have a valid and reasonable basis for this figure.
– To qualify for car loan tax benefits, the vehicle must be purchased and registered under the business or business owner’s name.
– Your tax claim can be rejected if the Income Tax officer concludes that you have not used the car for commercial purposes.
– Also, Insurance premiums and registration can be slightly higher. So do your cost-benefit analysis before making any decision.
Please Note – The above reel is for informative purposes only, consult a CA for proper tax planning. Also, it is assumed that a car loan is taken at 8.5% for 5 years.
[anushka rathod, finance, taxes, car, lifestyle]
#anushkarathod #finance #taxes #car #lifestyle | Posted on 13/Jan/2024 20:00:15
