Neha Nagar Instagram – Buying a car in India is not just about the car’s price; it’s about how much extra you pay in taxes!
Let’s take an example: Sharma ji’s son wants to buy a car worth ₹26 lakh (like a Scorpio-N).
But to actually afford it, he needs to earn ₹35 lakh. Why? Because:
₹9 lakh out of his ₹35 lakh income will go to the government as income tax.
Now, let’s break down the cost of the car:
1️⃣ The actual price of the car is ₹15 lakh.
2️⃣ On top of that, there’s:
🔸 28% GST on the car
🔸 22% Cess
🔸 18% GST on insurance
🔸 ₹2.5 lakh as road tax
In total, he’ll pay ₹19 lakh in taxes for a ₹26 lakh car!
So, when you buy a car, you’re not just buying it for yourself—you’re paying a hefty sum to the government too.
What do you think about these taxes? Share your thoughts!
#CarTaxes #IndianEconomy #Taxation #CarBuying #FinancialAwareness #GST #RoadTax #IncomeTax #MoneyMatters #ThinkBeforeYouBuy #PersonalFinance | Posted on 09/Jan/2025 16:30:12
