Corporate Lease On Cars To End As Per Government

[vaibhav]

Corporate lease on cars used to save on tax is going to be abolished

So people planning for a corporate lease plz take note

For the salaried, GAAR can be invoked to deny tax benefit - The Economic Times

 

[TSIVipul]

Re: Corporate lease on cars to end as per govt

Read it and as per them:
Any practice which people carry out for avoiding taxes will levy interest and penalties,if ITOs find it.

Those income tax officers themselves will tell us the loopholes of this system for just a cup of tea.
And then have you heard a word called CA?If yes,then those people are meant for this work only...
In other words "NO ISSUES"..

 

[vaibhav]

Re: Corporate lease on cars to end as per govt

TSI i have doubts that companies will keep this option now. They wont like to get in a tangle and may just abolish corporate lease system

 

[TSIVipul]

Re: Corporate lease on cars to end as per govt

Let's see what Mercedes Benz do.
Still I am quite sure that they will carry on their lease plans.Why?Because they have faith on the CAs of their customers with hefty bank balances.