Tax Compliance and Car Lease

[soap]

My company has changed the company car lease policy from this financial year onwards due to some 'tax rules'.

- We can avail car lease only in month of April
- We have 75-25 or 80-20% option only. Earlier we had 99-1%

Can someone please throw some light on the new 'tax rules' or 'tax compliance'?

 

[CasualSurfer]

Pls get in touch with 'manuman' in the forum. He should be able to give you good advice on car lease.

 

[soap]

@harishankar @manuman

With the introduction of GST does company leased cars hold the same advantage over cars taken on loan

 

[shankarcps]

Hello ,

I am planning to take Car lease from my employer . The Lease Company is ORIX . Interest Rate is 9.9% . No Preclosure Penalty . Difference in Ex-Showroom to On-Road amount would be taken care by company , i mean the Road tax + Registration and Insurance . Also they renew Insurance every year of the lease . F&M is re-imbursed (non taxable) . ITC(Input Tax Credit given). R.V is 20to23% (+GST applicable)

Should i take or not . Any suggestion would help me deciding