Imma say that Taxation or finance or whatever the topic it is can be done through any UA-cam channel or source but the thing is to get the viewer through the whole vedio as attention span of people is very short these days ... It's not only the topics or knowledge u impart but the way you explain it like i genuinely love it ... Another 17 year old teenager who understands the topic very quickly and dont even realise that the vedio has ended.... It's always so precise and crystal clear ... Thankyou so much ⚠️💯...
It would be great if you can start a course specifically for tax paying professionals educating about the various income tax laws and how those can be utilized for better tax eva... i mean planning. Please give it a thought.
This video was shown up on my feed and I watched it. Honestly, I loved the way it was explained, which can be understood by nonfinance professionals as well.
Salary head m perquisites learn krne k bad jo car wla benefits h ab jyda acha clarity se smj aya h actual m ye benefit hote h EE as well as ER 😘😘😘Mazaa ah gya sir 💖💖 Thankyou so much sir 😊😊
Sir maza aagya ... Ye sab ipcc me pada tha lekin itna practical and fresh example ke sath maza aagya sunnke ... 👍💯 Waiting for the last part to come for complex structure to learn. ✅
What if after 4 years, employee wants to keep the car, how much more need to pay. Also please calculate total amount spent by an employee in a car if bought through lease vs personal and do comparison. Include gst part based on engine capacity.
Sir I'm a CS executive student. Following your channel from a long time . Sir please teach tax laws to CS students as well. Please record one batch strictly as per ICSI modules pattern syllabus. It's a humble request sir. In CS fraternity there is no such dedicated teachers for CS specifically
Absolutely valid explanation: only one caveat >>> tax saving structure is valid for someone who is looking to buy a car. However, if someone already has a car that suits his needs >> this is doesnt work since tax on cars is GST 28% + Cess 22%... govt is still collecting tax on the car >>>that is part of ex-showroom price....
Sir is there a way to claim depreciation from Future and Option income for a salaried employee? FnO income shld count as business income but not sure if we can or how we can claim any depreciation or expenditure for car..will request to plz share ur thoughts on it.
@@onkargadale can this business income of FnO be reduced through expenses of the car like petrol, maintenance or depreciation of car? I did not meant to say salary...it would be third option which Sahil sir suggested
@@onkargadale future and option comes under transaction in derivatives and as per charging sec.28 trading in derivatives through recognised stock exchange comes under non-speculative transaction as it may seem speculative but it's not.
Great video but you have missed to consider the interest that leasing company used to charge during the lease period. Let's consider the rate of interest is 10% per annum and taking into account other benefits, then the employee can save upto 4 lakh. Altogether he has to repay somewhere around 16 lakh as the total cost of the car in these 3 years.
There's no separate interest charge. The lease charges being paid include the Interest as well and the same has already been considered in all calculations.
Thanks a lot sir to bring this video, but wouldn't it be taxable if we try to transfer the car in our name after 4yrs, as we've paid for it. The RTO charges and tax in the name transfer and all. Wouldn't it mess the whole thing up, even after saving around 3lakh+ as non taxable income?
@@TaxationWithCASahilJain but what happen if employer gift this car to employee along with that 20lac ,and show this as employee expenses. And later on employee return bal. (20-16) 4lac to employer in cash
@@OVConsultants Normally any company providing car lease program after 4-5 years of tenure car should be registered in employee name at the expense of employee. If employee decides to quit the company before the tenure he will have to pay remaining balance & get the the ownership transfer.
Hi Sahil, if the company has a policy for reimbursement of vehicle lease agreement, then in that case will the benefit of income tax would still be available?
Yes, you're right. In Maharashtra, there is higher registration tax for a corporate vehicle vs a personal vehicle. That cost will generally get passed on to you through the monthly rental.
Nice explanation sir ..can pls do comparison Vedio on software engineer Vs CA a kind of motivation, awareness needed as mostly parents r commenting on students who failed few attempts at Final level like if u have done software u would settled earlier, packages r higher than CA in job pls do Vedio on this
Thanks for your knowledge u r doing amazing job 🙂 Sir government job karne wale kitna tax kaise bacha skte h jinke annual income 10L se jyda h eshe uper video bna dijiye plz
Kisi individual ka agar 1st time ITR karna ho toh unse keya keya details lena hoga,kon kon si cheez puchna hoga,kis tarah se proceeds kare aur kaise balance sheet and pl banaye iske upar ek video banaiyye na sir!
Going by your example… suppose 16.75L is taxable income after availing car leasing from the company … the next near increment %age will be calculated on 16.75 or 20L ?
SIR Is TDS applicable on unilateral write-off i.e where company has not entered into formal One time settlement (OTS) with borrower as per Sep'2022 clarification on 194R
Its impossible to save tax in india in current generation you can only do some deduction , in your salary under some sections thats it . Only a businessman can save tax via investing whole sum in new things . So in india hard to avoid tax
V Nice explanation. never thought it (taxation) would be easy to understand. Please suggest what if the employee is working remotely from a location away from Office (in a diff state). In that case can the employee still avail the car lease?
Good video but foreclosure was not very clear, what exactly needs to be done when shifting companies? should we approach to new company tax team to resume this tax setup?
Hello sir, thanks for the information.... what will happen suppose after the term eg 4 years, employee wishes to purchase the car and transfer from company registration to personal registration...how much will the employee need to pay for car purchase...
Hi Shail, this is very informative. My company has this policy and now I understood why and how this saves tax. But my company has 1 more thing, they say that bring car documents of anybody (could be family member, if not earning then best) and then they show it as a lease from them and deduct money from our salary and pay to the car owner. And if you leave the company then there is no liability on them. So this lease from employee choice is legal and if so then can I propose this to another company if I switch? Will this be a big deal for companies or can they help employees? Please reply if and when you are free.
@@AIsummarised hey, these are a bit complicated and depend on your company policy, i have left this company and didn't avail that service. Though In current company I'm planning for a car through coorporate lease program which helps in save tax by a huge margin. Check with your company for any car lease policy and they will explain details too.
II have opted for a Company Car lease program, tenure 5 years at an EMI of approx 48K (2200 CC, SUV, More than 4000MM Length). Kindly advise if it makes sense to buy back the car from Lease company, and the payable taxes and other components please 🙂
Can you please let us know , what about the tax savings vs after 4 years of lease what happens with Employee, does he owns car, what is percentage saved and does heown or not ? if he has to buy same car what happpesn ?
Sir agar Ghar me business ho 50L ke ander and ghar pe kheti bhi hai 24 acres to ise case me gadi leke kaise tax bachaye? For Both electric and Fuel vehicles ?
Nice and informative video once again…Pl explain how to save 31.2% of on rd cost in subsequent years in income tax as explained in your last video for worst case scenario… Request reply please thx
Some employers take declarations from employees that car is used for official purpose and pass on this benefit to employees even when car is owned by Employees.
Sir, there is a GST component as well. My employer stopped the company's car policy because of GST introduction from government. I am not sure.. Request you to clarify
Sir, what would happen with car after 4 years when lease is complete? Let say after 8 years, employee wants to sell it to somebody. How employee can sell when it is on the name of employer.?
Dekh raha hai na Binod, Sahil Sir kitna mast thumbnail banate hain 😀
Banrakas😂😂
Haan bhaiya...
Sahi bole bhusan Bhai
RS?
Dekh raha hai na binod, apni car ko company ki bol ke kaise tax bachaya jata hai
I'm not a CA student, rather an engineer, still loves to watch your videos.
Same..
Backlog aa jayegi subject pr focus karo side me rakhna yeh
@@Rabhai-gw1qf haha.. not sure about gaurav but I am working in It field
@@sanketnegi1 whats your package?
@@Sanskargargkumar My package is 7 inches
Imma say that Taxation or finance or whatever the topic it is can be done through any UA-cam channel or source but the thing is to get the viewer through the whole vedio as attention span of people is very short these days ... It's not only the topics or knowledge u impart but the way you explain it like i genuinely love it ... Another 17 year old teenager who understands the topic very quickly and dont even realise that the vedio has ended.... It's always so precise and crystal clear ... Thankyou so much ⚠️💯...
It would be great if you can start a course specifically for tax paying professionals educating about the various income tax laws and how those can be utilized for better tax eva... i mean planning. Please give it a thought.
Uska paisa lagega
'bat karke dekhiye, bat karne se pehle koi bhi bat nahi banne vali' I felt that. Thanks sir❤
Zabardast Video. Ye aapka pehla video hai jo maine dekha... Poore UA-cam mein iss topic pe isse acha video nahi hai... Ek like toh banta hai boss..
Leasing car is the best solution for high salaried employees 👌, Good one @sahil
Owning > Leasing (for a car).
Simple Knowledge.
Awesome. Such clarity. Superb knowledge and amazing knowledge sharing skills. We need more and more teachers like you
This video was shown up on my feed and I watched it. Honestly, I loved the way it was explained, which can be understood by nonfinance professionals as well.
Salary head m perquisites learn krne k bad jo car wla benefits h ab jyda acha clarity se smj aya h actual m ye benefit hote h EE as well as ER 😘😘😘Mazaa ah gya sir 💖💖
Thankyou so much sir 😊😊
Best video for company car scheme leasing explanation, Thank you Sir for making this.
Employer wont agree this but great thought sirr
I was recently researching on the same. Your video is very helpful
12:58 to 13:13, Sahi Khel gya Vencho.!!!
Sir maza aagya ... Ye sab ipcc me pada tha lekin itna practical and fresh example ke sath maza aagya sunnke ... 👍💯
Waiting for the last part to come for complex structure to learn. ✅
Thank you sir as promised you have uploaded in a week 😀🙏
Please also make how to get car loan in 1-2 % as you said in last video sir
Thank you 🙏🏻
What if after 4 years, employee wants to keep the car, how much more need to pay.
Also please calculate total amount spent by an employee in a car if bought through lease vs personal and do comparison. Include gst part based on engine capacity.
Sir I'm a CS executive student. Following your channel from a long time . Sir please teach tax laws to CS students as well. Please record one batch strictly as per ICSI modules pattern syllabus. It's a humble request sir. In CS fraternity there is no such dedicated teachers for CS specifically
5:00 isme kya employee apne employeer ko har baar QR code whatsapp karega kya?
yeh batein sunane m bahut achi lagti h ...
Nice narration..!! Cool insight to taxes
eye opening stuff.. thanks for spreading the knowledge
Absolutely valid explanation: only one caveat >>> tax saving structure is valid for someone who is looking to buy a car. However, if someone already has a car that suits his needs >> this is doesnt work since tax on cars is GST 28% + Cess 22%... govt is still collecting tax on the car >>>that is part of ex-showroom price....
Sir aapki Voice Amazing hai. Just like a RJ😊
Sir as you mentioned in last video that we can get loan at 1-2%. Please 🙏 make video on this topic also,
Sir is there a way to claim depreciation from Future and Option income for a salaried employee? FnO income shld count as business income but not sure if we can or how we can claim any depreciation or expenditure for car..will request to plz share ur thoughts on it.
I also want to know.
These can not be claimed, fno are comes under speculation business these can not be claimed against salary
@@onkargadale can this business income of FnO be reduced through expenses of the car like petrol, maintenance or depreciation of car? I did not meant to say salary...it would be third option which Sahil sir suggested
@@onkargadale future and option comes under transaction in derivatives and as per charging sec.28 trading in derivatives through recognised stock exchange comes under non-speculative transaction as it may seem speculative but it's not.
Hi @Sahil.. Great videos. Much appreciated. Especially the bits with examples. It would help more if you please split the whole video in Chapters.
Yes Sir .... we need this types tax planning more videos
Also bank interest will be saved. Also if employer office is located in sez location, GST benefit also will be passed on to employed.
I loved that tagline , gaadi ka chakkar babu bhaiyya , gaadi ka chakkar 😂
Sir Loved the way you explain 🙏❤️
Sir please make a dedicated video in Articleship with your experience and how to get into BIG 4s
Great video but you have missed to consider the interest that leasing company used to charge during the lease period. Let's consider the rate of interest is 10% per annum and taking into account other benefits, then the employee can save upto 4 lakh. Altogether he has to repay somewhere around 16 lakh as the total cost of the car in these 3 years.
There's no separate interest charge. The lease charges being paid include the Interest as well and the same has already been considered in all calculations.
Employee can also buy after few directly from employer (when he resign)
Informative & very helpful. Thanks.
Thanks a lot sir to bring this video, but wouldn't it be taxable if we try to transfer the car in our name after 4yrs, as we've paid for it. The RTO charges and tax in the name transfer and all. Wouldn't it mess the whole thing up, even after saving around 3lakh+ as non taxable income?
Ideally, no one would transfer the car to their own name after 4 years. It’s a leased vehicle, you can just return it and stop paying lease rental.
Hey Sahil, then all the payment done would result in no asset creation and would not be returned too, am I right or correct me?
@@TaxationWithCASahilJain but what happen if employer gift this car to employee along with that 20lac ,and show this as employee expenses. And later on employee return bal. (20-16) 4lac to employer in cash
@@TaxationWithCASahilJain Please make a video on expenses that can be written of in business, for i.e travel expense, furniture etc.
@@OVConsultants Normally any company providing car lease program after 4-5 years of tenure car should be registered in employee name at the expense of employee. If employee decides to quit the company before the tenure he will have to pay remaining balance & get the the ownership transfer.
Sir, kindly do such series for government employees also
Microsoft India has this exact car lease benefit. My friends have bought cars and enjoy this benefit.
I hate income tax subject in my finals as well as intermediate but I don’t know how you are making me fall for IT
Hi Sahil, if the company has a policy for reimbursement of vehicle lease agreement, then in that case will the benefit of income tax would still be available?
Your deliberation is excellent
When the car is purchased by the corporation, isn’t there a higher registration cost that is applied??
Not necessarily. If your employer is a sole proprietor and purchases car in their Individual name, there’s no extra cost.
Yes, you're right. In Maharashtra, there is higher registration tax for a corporate vehicle vs a personal vehicle. That cost will generally get passed on to you through the monthly rental.
Sir aapne jaise bola ki gaadi apni employer ke naam pe lena but sir ye toh benami transaction me aa jayegana ?
Plz ise as a doubt lena !
Sir ca inter may 2023 ki tax ki classes kab start karege aap?
Nice explanation sir ..can pls do comparison Vedio on software engineer Vs CA a kind of motivation, awareness needed as mostly parents r commenting on students who failed few attempts at Final level like if u have done software u would settled earlier, packages r higher than CA in job pls do Vedio on this
What happens after the lease period and you want to hold on to the vehicle? What about buy back price from the lease company?
Its a perfect explanation!
Best practical explain....
Sir please tell me jo dukan par had se likhneka book bill hota he na o kus galti hote to dubra likh sakte kia
Thanks a lot for all the information you provide... it really helps in our lives... Appreciate your efforts Sahil ji 🙏👍
Sir Ek Request Hai Pls Make Video on Clarification Regarding Applicability OF GST and ITC on Food Grains and Pre Packaged Items .... 🙏🏻
Thank you for sharing with detailed explanation. When can we have the Part 2 of this topic.? Thanks
Thanku sir for such video..ek bar example lekr taxation on liquidation amalgamtion pr bhi video bnadijiye ek
Excellent explanation.
Thanks for your knowledge u r doing amazing job 🙂
Sir government job karne wale kitna tax kaise bacha skte h jinke annual income 10L se jyda h eshe uper video bna dijiye plz
@Sahil, can salaried people save taxes just by doing 1 freelance project and filing for presumptive taxation?
Is this lease part applicable in the new tax regime also ?
sir you should make video on Mercedes star agility and how can individual/ business can benefit from it.
2nd option is further beneficial if your employer lets you reimburse for Fuel and Driver.
Can you please explain this
17000 ka expenses like driver, fuel etc har month claim kar sakta hun main.
Hi Sahil,
What is the net tax benefit for the employee after GST paid on car lease rental?
Kisi individual ka agar 1st time ITR karna ho toh unse keya keya details lena hoga,kon kon si cheez puchna hoga,kis tarah se proceeds kare aur kaise balance sheet and pl banaye iske upar ek video banaiyye na sir!
Going by your example… suppose 16.75L is taxable income after availing car leasing from the company … the next near increment %age will be calculated on 16.75 or 20L ?
Great information, much appreciated.
Could you confirm if salaried employees can save taxes if they buy a car directly but on car loan ?
SIR
Is TDS applicable on unilateral write-off i.e where company has not entered into formal One time settlement (OTS) with borrower as per Sep'2022 clarification on 194R
Hi if the emplyer is going for the third option where fuel and driver salary is also made part of it, can a vehicle be registered under BH?
Its impossible to save tax in india in current generation you can only do some deduction , in your salary under some sections thats it . Only a businessman can save tax via investing whole sum in new things . So in india hard to avoid tax
What is the procedure to retain the car at the end of tenure or change of employment?
Hi. In option no 2, what will be income tax treatment after completing 4 years and employee needs to transfer the car in his own name?
V Nice explanation. never thought it (taxation) would be easy to understand. Please suggest what if the employee is working remotely from a location away from Office (in a diff state). In that case can the employee still avail the car lease?
Good video but foreclosure was not very clear, what exactly needs to be done when shifting companies? should we approach to new company tax team to resume this tax setup?
Sir you have said about everyone except Govt Employees. Please make a video about them also. 🙏
Please make your vedios in English or try to add or enable captions. It would be really helpful for larger audience.
Hello sir, thanks for the information.... what will happen suppose after the term eg 4 years, employee wishes to purchase the car and transfer from company registration to personal registration...how much will the employee need to pay for car purchase...
Hi Shail, this is very informative. My company has this policy and now I understood why and how this saves tax. But my company has 1 more thing, they say that bring car documents of anybody (could be family member, if not earning then best) and then they show it as a lease from them and deduct money from our salary and pay to the car owner. And if you leave the company then there is no liability on them. So this lease from employee choice is legal and if so then can I propose this to another company if I switch? Will this be a big deal for companies or can they help employees? Please reply if and when you are free.
hey can you please elaborat this
@@AIsummarised hey, these are a bit complicated and depend on your company policy, i have left this company and didn't avail that service. Though In current company I'm planning for a car through coorporate lease program which helps in save tax by a huge margin. Check with your company for any car lease policy and they will explain details too.
2 nd method Is it applicable for purchase on emi too?...becoz main topic is on lease not own !!!!
Company will add interest component approx. 10%. So net tax benefit is 20%
II have opted for a Company Car lease program, tenure 5 years at an EMI of approx 48K (2200 CC, SUV, More than 4000MM Length). Kindly advise if it makes sense to buy back the car from Lease company, and the payable taxes and other components please 🙂
Sir kya Farmer {kisan } bhi gaadi par tex savings kar sakte he?
Can you please let us know , what about the tax savings vs after 4 years of lease what happens with Employee, does he owns car, what is percentage saved and does heown or not ? if he has to buy same car what happpesn ?
Can I take rebate for two types like for electrical car Rebate by my name and other rebate by employer name ,plz answer Sahil ji
Hi Mr Sahil... My income is from stcg, ltcg and dividends. How can I take advantage of taxation and depreciation on buying cars?
Sir agar Ghar me business ho 50L ke ander and ghar pe kheti bhi hai 24 acres to ise case me gadi leke kaise tax bachaye? For Both electric and Fuel vehicles ?
Whether GST is applied on the EMI over and above already applied GST on the cost of car?
Sahil bhai. By opting for leased veh, we also save on our hard-earned money after paying income taxes by saving RTO and GST etc
😂 Do you think the person who is leasing the car to you is doing charity? He is going to recover that cost from you by increasing the lease charge.
Nice and informative video once again…Pl explain how to save 31.2% of on rd cost in subsequent years in income tax as explained in your last video for worst case scenario…
Request reply please
thx
Sir koi bhi game jese DREAM11 pe paise jitne par uspe TDS cut ho jata hai is case me ham TDS refunded claim kar sakte hai ?
Sir , plz make a video on how to save on import duties on cars, In case someone is importing car to India. Jai Hind....
Is it (Company Lease Car) applicable in new tax regime also?
sir, For example I get a car on lease for 4 years, what will happen after 4 years will it transferred to my name once period is over.
Please make Video on Taxation rules / Benefits for Doctor’s.
Aur goverment employee ke bare me kuch bataiye sir
sir, since yeh car hai to dep ka treatment kya hoga in the hands of employer ??
Some employers take declarations from employees that car is used for official purpose and pass on this benefit to employees even when car is owned by Employees.
Hi, how would leasing company can benefit salaried employee inase employer doesn't agreed for leasing a car to buy on behalf of employee.
Could you please make a video on how a salaried person can save maximum income tax.
for the business man as you said earlier. that has to be commercial no right?
Sir, there is a GST component as well. My employer stopped the company's car policy because of GST introduction from government.
I am not sure.. Request you to clarify
Sir electronic credit ledger balance kay refund hota hai bank pe
Sir, what would happen with car after 4 years when lease is complete?
Let say after 8 years, employee wants to sell it to somebody.
How employee can sell when it is on the name of employer.?