From NDTV
Center-Right Owned by Adani Group (AMG Media)Bought A New Car During Diwali? Check These Tax Benefits Before March 31
What's behind this
Diwali promotions such as Dhanteras offers and attractive financing schemes are encouraging many buyers to consider a new car, but experts warn that the purchase involves more than the loan EMI, including processing fees, insurance and other charges. In addition, purchasers can explore tax benefits for business‑use vehicles, claim depreciation, avail electric‑vehicle loan deductions, and face a 1 % TCS on cars priced above Rs 10 lakh if the benefits are claimed before March 31.
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right · 2 outlets
Dhanteras offers and attractive financing schemes can make buying a new car appealing. However, buyers should remember that a vehicle is a long-term financial commitment involving expenses beyond the loan EMI.
— Livemint
RSS excerpt
Bought a new car this Diwali? Understand tax benefits on business-use vehicles, depreciation claims, EV loan deductions, and 1% TCS on cars costing above Rs. 10 lakh before March 31.
