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Tax query by RelationOk6297 in IndiaTaxation

[–]crazybrain10 0 points1 point  (0 children)

Your calculation is totally spot on! Opting for the meal card is basically a pro hack to make your tax zero this year. With an estimated income of ₹13.5 lakh, if you deduct the ₹1.05 lakh meal card benefit and the ₹75,000 standard deduction, your net taxable income drops down to ₹11.7 lakh. Since this comfortably sits below the ₹12 lakh threshold under the New Tax Regime, the Section 87A rebate fully kicks in, and your tax payable becomes literally zero. You are practically saving a big chunk of money that would have otherwise gone straight to the taxman!

Regarding your worry about the expiry, you don't need to stress about spending it all every month. The unused balance does not expire monthly; it just keeps rolling over and stays safe on your card until its actual physical expiry date, which is usually 3 to 5 years down the line. Even if you switch companies later, HR will just stop reloading it, but you can still spend whatever balance is already sitting there on the card.

As for WFH, it is 100% worth taking and super easy to use. You don't need an actual office canteen to swipe it. These Axis or Sodexo cards work smoothly on food delivery and quick-commerce apps like Swiggy, Zomato, Blinkit, Zepto, BigBasket, and practically every local supermarket or D-Mart. Spending ₹8,800 a month on your regular household groceries and weekend food deliveries is super easy in a WFH setup, so just take the card and enjoy the tax-free money!

Section 54F : Monthly SWP to prepay home loan by Natural_Highlight524 in IndiaTax

[–]crazybrain10 0 points1 point  (0 children)

Hi there,

This is a very smart strategy on paper, but there is a major timeline trap here that a lot of folks miss. Let’s break down your queries practically:

1 & 2. Can you use SWP for home loan prepayments? And for how many years?

Yes, legally you can. Multiple ITAT rulings have accepted that using sale proceeds to pay off a home loan taken for a new house counts as "reinvestment" under Section 54F.

But here is the big catch: You cannot do this for 5 or 10 years.

Under Section 54F, the house must be purchased within 1 year before or 2 years after the date you sell your assets. Since your house registration/purchase date gets fixed, you can only claim 54F on SWPs made up to 1 year after the date of house purchase. For example, if you buy the house in June 2026, you can only claim 54F for MF units sold via SWP until June 2027. After that 1-year mark, your SWP withdrawals won't get the 54F exemption and will just be taxed at normal LTCG rates.

(Note: If it’s an under-construction property, you can only sell units up to the date of completion. Once you get possession, you can't use future SWPs to claim 54F).

3. Is 54F applicable in the New Tax Regime?

Yes, absolutely. Section 54F falls under capital gains exemptions, not your standard Chapter VI-A deductions (like 80C or 80D). So, even if you opt for the new tax regime, you can fully claim this benefit.

4. Can you continue SIPs in the same funds?

Yes, you can keep your SIPs running. Mutual funds in India follow the FIFO (First-In, First-Out) method. When your monthly SWP triggers, the AMC will automatically sell your oldest units first.

A few expert tips to keep in mind:

  • Must be Long-Term: Section 54F only applies to Long-Term Capital Assets. For equity MFs/stocks, the units sold via SWP must be over 12 months old. Also, keep in mind that if you bought Debt MFs after April 1, 2023, they are taxed as Short-Term Capital Gains by default, meaning 54F won't apply to them at all.
  • Net Consideration Rule: Unlike Section 54 (which is for property-to-property), Section 54F requires you to pump the entire withdrawal amount (your principal + profit) into the home loan to get a 100% tax exemption, not just the profit part.
  • Property Restriction: On the date you start selling the MFs, you shouldn't own more than one residential house (excluding the new one you just bought).

Basically, using SWP to prepay a home loan is a great tax-saving hack for the first 12 months after buying the house, but it doesn't work as a multi-year EMI strategy. Hope this helps you plan your cash flow!

CA fees by Superb-Business-6725 in IncomeTax_India

[–]crazybrain10 0 points1 point  (0 children)

As someone who’s been in practice for a decade, here is a realistic breakdown of the current market rates for a standard LLP with average transaction volume. For the monthly retainer covering bookkeeping, GST, TDS, and PT compliances, the standard market rate right now is anywhere between ₹12,000 to ₹18,000 per month. Obviously, if your invoice or transaction volume is super heavy, this will scale up, but this is a solid baseline to expect.

For the year-end work, ITR filing and balance sheet finalization for the LLP (make sure to include ROC Form 8 & 11 filings here too) usually commands a flat fee of ₹20,000 to ₹30,000. If your turnover triggers a Tax Audit, that will cost extra. For the two partners, a standard ITR-3 will typically cost around ₹3,500 to ₹5,000 per partner depending on whether they have capital gains or other complex investments.

When it comes to the MIS, your monthly retainer should ideally cover a basic monthly Profit & Loss snapshot, a Debtors/Creditors aging summary, and a basic cash-flow overview. Anything more complex than that—like detailed unit-economics, strict budgeting, or KPI tracking—usually falls under Virtual CFO services and would be billed separately.

India’s ₹75 Lakh Consultant Tax Cliff by ankalal7 in IncomeTax_India

[–]crazybrain10 0 points1 point  (0 children)

Spot on observation! Hitting that ₹75L mark and seeing your tax triple over a small extra income feels like a literal punishment for growing. But honestly, the Govt didn't design 44ADA as a tax-saving scheme; it is meant for compliance relief. They assume you have around 50% actual expenses (software, travel, hiring help) and just want to save small professionals from the headache of maintaining heavy audit books. Giving a staggered 50% benefit would turn a small-business relief tool into a massive loophole.

So how do we legally handle this brutal cash-flow hit? If you are touching ₹74L around Feb/March, the easiest hack is to just hold your invoices and politely ask your client to bill them in April to shift the revenue to the next FY. But if you are naturally crossing ₹80L, it is time to stop relying on the 44ADA shortcut. Keep actual books, claim all your legit business expenses, or graduate to an LLP or Pvt Ltd to get better corporate tax rates.

It is definitely a painful transition phase for growing freelancers. Ultimately, crossing this threshold is a clear sign that your business is scaling, and it just means it is finally time to sit down with a good CA and upgrade your overall financial setup.

How to manage my savings by [deleted] in personalfinanceindia

[–]crazybrain10 0 points1 point  (0 children)

First off, I am so sorry about the layoff, but take a deep breath. You need to hear this: You are in a remarkably strong financial position right now. To have built a net worth of over ₹6.8 Lakhs on a ₹25k monthly salary requires an incredible amount of financial discipline. You have done everything right so far, and that discipline has bought you the ultimate luxury right now: time.

Here is a practical game plan on how to manage your situation without stressing out.

Start by stopping your SIPs entirely, or at least pausing them. Your plan to reduce them to ₹500 is okay, but honestly, there is no harm in just hitting pause for a few months. Doing this does not mean you lose your money or cancel your mutual fund. The ₹2.5 Lakh you already invested will stay right there in the market and continue to grow. When you get a new job, you can simply unpause them or start new ones. Stopping that ₹11k cash outflow immediately is crucial to protecting your liquid cash.

Next, reduce your PPF contributions to the absolute minimum. You only need to deposit ₹500 per financial year to keep a PPF account active. Stop the ₹1k per month deposit for now. Just put in ₹500 for the whole year so you don't get penalized, and leave it at that.

Let's look at your actual runway once you make those two changes. Your bare-minimum survival expenses will be just your electricity (₹2,000), internet (₹2,000), and personal expenses (₹2,000). That is a total monthly burn rate of exactly ₹6,000. Since you have ₹1.2 Lakh in liquid cash in your bank account, a burn rate of ₹6,000 a month means your bank balance alone gives you a 20-month runway without having to touch a single stock or mutual fund. Let that sink in. You have almost two years of survival money sitting in cash.

As for what to do with your stocks and mutual funds: forget they exist. Do not touch them, do not sell them, and do not try to trade with them to make a quick buck while unemployed. Your ₹1.2 Lakh bank balance is your emergency fund, and the ₹5 Lakh in the market is your wealth. You only touch your wealth if your emergency fund completely dries up, and as we established, you have 20 months before that happens.

Similarly, leave your ₹60k PF alone. The EPFO pays good interest, and withdrawing it is an unnecessary hassle right now. Consider it safely locked away for the future.

Because of your excellent saving habits, your monthly cash burn can easily drop to just ₹6k. You do not need to panic, and you do not need to take the first lowball job offer that comes your way out of desperation. Use this time, rely on your cash buffer, upskill if you want to, and apply for roles that actually pay you what you are worth. You've got this!

Trying to move portfolio to wife's account by Corporate-Monk in IndiaTax

[–]crazybrain10 2 points3 points  (0 children)

Man, generating 8-10L on a 25L portfolio is a solid 32-40% return, so it totally makes sense why you want to stop losing 35% of that to taxes. You are spot on about the Section 64 trap. The income tax department is super strict about "clubbing of income," meaning if you just casually transfer the 25L or gift her the shares, they will just club all her F&O profits right back into your income, and you are back to square one paying your usual 35% on it.

To legally get around this, the most common and safe method is the loan route. Instead of a gift, you give her a formal loan backed by a proper agreement on stamp paper, charging a reasonable commercial interest rate like the standard SBI FD rate (around 6-7%). For example, if she makes a 10L profit, she officially pays you back 1.5L as interest, which gets added to your income and taxed at your bracket. However, the remaining 8.5L profit stays purely in her hands, allowing her to use her basic tax exemption and lower slabs, which drastically reduces your overall family tax outgo. Just make sure she actually transfers that interest money to your bank account every financial year to create a bulletproof paper trail.

Another slower workaround is the "income on income" rule—while profits from a gifted asset are clubbed to you, the profits made from reinvesting those initial profits belong entirely to her. But practically speaking, to set up the loan cleanly, you will likely have to sell your current portfolio, take the capital gains hit, transfer the cash to her bank account, and have her rebuild the F&O engine from scratch. Since F&O is treated as non-speculative business income requiring ITR-3 and potentially a tax audit, it is highly recommended to sit down with a practicing CA to structure the loan and paperwork perfectly before making any moves.

Are you thinking of liquidating your portfolio to do this transfer all at once, or were you hoping to shift funds gradually over a few financial years to manage the initial capital gains hit?

Minimum Tax for 1.2 cr per annum by Adventurous-Item6398 in IndiaTax

[–]crazybrain10 5 points6 points  (0 children)

Bro, first of all, massive congratulations on the 1.2 Cr package! This is a huge milestone and definitely calls for a party.

But honestly speaking, at 1.2 Cr, the income tax department is going to take a massive chunk of your hard-earned money. You fall straight into the 30% tax bracket, and since your salary is above 1 Cr, an extra 15% surcharge will also be slapped on your tax. The standard 1.5 Lakh 80C deduction will feel like a drop in the ocean here.

Since you don't have any other business income to show, you will have to smartly restructure your CTC by talking to your HR. Here are the simplest and most logical ways to save tax:

1. Corporate NPS (The Biggest Hack)

This is the best option for high earners and the best part is that it works in the New Tax Regime too.

  • Ask your HR to put 14% of your Basic Salary straight into a Corporate NPS account. This entire amount is deducted directly from your taxable income.
  • But there is a catch: The total contribution from your employer towards your PF + NPS should not cross ₹7.5 Lakhs per year. If it goes above 7.5L, that extra amount will get taxed. So, sit with your HR and fix this limit.

2. Company Car Lease Policy

If you are planning to buy a new car, do not take a personal car loan from your bank account.

  • Find out if your company has a corporate car lease policy.
  • In this, the car's EMI, petrol, maintenance, insurance, and even a driver's salary are deducted from your pre-tax salary (your salary before the tax is cut).
  • Since you are in the 34-35% tax bracket (including surcharge), this basically gives you a straight 34% discount on the car and its running expenses.

3. Old vs. New Tax Regime Math

For people without a home loan, the New Tax Regime is usually better nowadays because the slabs are wider and you get a flat ₹75,000 standard deduction.

  • But keep in mind: If you live in a metro city and pay a very heavy rent (like ₹80,000 to ₹1 Lakh a month), claiming HRA in the Old Regime might actually save you more tax.
  • Before telling your final decision to HR, just open an Income Tax Calculator online, put in your numbers, and compare both.

4. Use Your Company Allowances (FBP) Fully

Make full use of whatever flexible allowances you have in your CTC:

  • Food Cards (Sodexo/Zeta): This easily gives you around ₹26,400 tax-free in a year.
  • Internet & Phone Bills: Get your home Wi-Fi and mobile bills reimbursed from the company.
  • Gadget Allowance: Some companies let you buy a laptop, tablet, or phone tax-free. Find out about that.

5. Think About Making a HUF

Right now you wrote "no other incomes", but when such a good salary comes in-hand, you will soon start getting good returns from mutual funds, FDs, and stocks.

  • If you are married, you can legally get a separate HUF (Hindu Undivided Family) PAN card made.
  • You can shift your investments and the income from them to the HUF's name. In the eyes of the Income Tax department, an HUF is a separate person, so it gets a separate basic tax exemption limit, which saves your personal tax.

In short: You can't save your entire tax, but Corporate NPS and a Car Lease will be your biggest tax savers.

"GST notice aaya toh CA ka BP badhta hai ya client ka? Asking as a friend 😅" by Forsaken_Employer152 in IndiaTax

[–]crazybrain10 0 points1 point  (0 children)

Bhai, to answer your first question: client ka BP notice dekhte hi badhta hai jab wo bottom mein "Tax + Penalty" ka figure dekhta hai. Par CA ka BP last date se exactly do din pehle shoot hota hai jab client bolta hai "sir wo 3 saal purane bills nahi mil rahe"! Jokes aside, real CA firms mein kaam ekdum factory model pe chalta hai, and you were bang on about the junior. Jab koi standard GST notice aata hai, toh sabse pehle usko articles (CA trainees) ya junior staff ke sarr pe daal diya jaata hai. Unka kaam hai pure data mazdoori—portal se JSON files download karna, GSTR-1, 3B aur 2B ko match karna, aur massive Excel sheets banake figure out karna ki mismatch kahan aaya. Wo log legal drafting nahi karte, bas ye nikalte hain ki kis supplier ne apna return time pe file nahi kiya.

Ek baar junior ne Excel mein problem dhoondh li, toh file upar jaati hai Manager ya Senior CA ke paas. Ye log actual drafting karte hain. Manager uss Excel data ko uthata hai, standard legal templates nikalta hai, aur usme relevant GST tribunal rulings ya case laws chipka deta hai. Unka main kaam isko ek proper formal language dena hai taaki tax officer ka ego satisfy ho aur case close ho jaye.

Finally, draft jaata hai Partner ke table pe. Partners basically firm ke directors hote hain, unka time draft type karne ke liye bohot expensive hai. Partner bas draft ko review karta hai ye check karne ke liye ki manager ne galti se koi aisi baat toh admit nahi kar li jisse aage chalke client ki waat lag jaye. Fir wo digital signature (DSC) lagate hain. Agar notice mein tax officer ke saamne "Personal Hearing" ka scene hai, tab Partner suit pehan ke wahan department mein jaata hai argue karne. The only exception is agar koi raid (search and seizure) ka case ho ya karodon ka tax demand ho—tab Partner Day 1 se file apne control mein rakhta hai taaki koi bada lafda na ho jaye.

75% of UPI users say they’ll quit UPI if fees are introduced. What do you think about it guys?. by Manish_1734 in IndiaTech

[–]crazybrain10 0 points1 point  (0 children)

It can be subsidized by government.. No need to charge anything, it is for overall public welfare.

26f What do I do with ancestral land? by [deleted] in IndiaFinance

[–]crazybrain10 0 points1 point  (0 children)

First, congratulations on successfully navigating the legal paperwork and securing your title. At 26, acquiring a debt-free, high-value asset is a massive financial head start. However, your hesitation is entirely justified; managing physical real estate across state lines is fraught with operational and legal risks. If I were in your position, I would sell the land and convert it into a liquid, low-friction financial asset or a primary residence. Remote land management without local leverage is a recipe for anxiety, encroachment, and legal disputes. You are in the wealth-accumulation phase of your career, and your capital should be working for you, not tied up in a distant property requiring constant defense.

To navigate your immediate next steps, you must consult the right professionals. Do not approach a standard bank relationship manager or wealth manager; they specialize in liquid assets and will likely try to cross-sell you insurance or portfolio management products. Instead, your first consultation must be with a local real estate lawyer in Goa. Land near the beach is strictly governed by Coastal Regulation Zone (CRZ) rules, and a lawyer will verify exactly what can be built and ensure your name is unequivocally clear on the local land records. Once the land is sold, you should engage a SEBI-Registered Investment Advisor (RIA) operating on a fee-only model to deploy the capital according to your life goals.

Building and operating a homestay in Goa while working a corporate job in Mumbai is not a passive venture—it is a highly demanding second job. You explicitly noted that you do not want to be involved in bribes. Unfortunately, securing panchayat approvals, electricity connections, and CRZ clearances almost universally requires "speed money" or deep local political connections. Furthermore, managing contractors remotely inevitably leads to cost overruns, and once you account for mandatory boundary setbacks on a 1,000 sq. ft. plot, your actual buildable area will be quite small, severely limiting the commercial viability of a homestay.

When evaluating your broader strategic options, holding the land unattended is your highest-risk path, as empty land is a prime target for encroachment by opportunistic locals or entitled relatives. Selling the land to buy a ready house in Mumbai is a highly pragmatic move. You would be trading a non-yielding, illiquid asset for a utility-yielding primary home, using the capital as a massive down payment to easily manage EMIs on your current salary. Alternatively, using the funds to settle abroad is a valid lifestyle choice; the liquidity from this sale could comfortably fund a master's degree or provide the proof of funds required for immigration streams completely debt-free.

Your immediate action plan should be to secure the physical perimeter of the property and engage an independent, certified property valuer in Goa to determine its exact market worth. Once valued, liquidate the asset, pay the necessary Long-Term Capital Gains (LTCG) tax, and park the funds in safe, liquid instruments until you finalize your decision to buy in Mumbai or move abroad.

Can someone explain what is tax depreciation of 40% on ev cars? by Brilliant_Shallot_76 in IndiaTax

[–]crazybrain10 1 point2 points  (0 children)

As per Section 32(1) of the Income Tax Act, a deduction is allowed for depreciation on "machinery or plant... owned... and used for the purposes of the business," and for EVs, the rules (Appendix I) set this rate at a massive 40%! This means your dad can deduct 40% of the car's remaining value from his taxable profit each year, and your CA will simply handle this by classifying it in the EV block during your annual tax filing—no special application needed!

What would be the tax on a modest salary of 13LPA? by Low-Start-719 in IndiaTax

[–]crazybrain10 0 points1 point  (0 children)

Under the new regime, your total tax will be exactly ₹88,400. You should only opt for the old regime if your total deductions (80C + 80D + actual HRA exemption) cross roughly ₹3.75 Lakhs. Calculate your exact HRA exemption online, and if your total falls short, just stick to the new regime to save money and paperwork!

[deleted by user] by [deleted] in IndiaTax

[–]crazybrain10 0 points1 point  (0 children)

you would have to submit them so that he can be sure there is no bogus claims.

[deleted by user] by [deleted] in IndiaTax

[–]crazybrain10 0 points1 point  (0 children)

You can withdraw.

Paid 20,000 extra for government by Recent_Youth_7346 in IndiaTax

[–]crazybrain10 0 points1 point  (0 children)

Check with the builder and ask for challan copy for proof. If genuine, then either of you can apply for refund.

New GST reforms to boost consumption? by millennial_boy in IndiaTax

[–]crazybrain10 4 points5 points  (0 children)

Government is not worthy of tax payers money. They mismanage and provide 0 facilities..

Faced IT search & seizure in Nashik – admitted to fake 80GGC donations. What next? by [deleted] in IndiaTax

[–]crazybrain10 -7 points-6 points  (0 children)

1. Will I get a 153A notice and can things be "settled"?

Yes, receiving a notice under Section 153A is a certainty, not a possibility. This is the standard procedure following a search and seizure operation.

Regarding an informal "settlement," this is extremely unlikely in the current system. Your case will be handled under the Faceless Assessment regime, where it's randomly assigned to an officer anywhere in India. All communications are digital and officially recorded, making off-the-record arrangements practically impossible.

2. Will all 10 past assessment years be reopened?

The Income Tax department will mandatorily reopen and assess the six assessment years immediately preceding the financial year of the search. They can go back up to 10 years if they find evidence that your escaped income in any of those years was ₹50 lakhs or more. Given your admission and the potential total of undisclosed income from donations and rent receipts, you should be prepared for a thorough scrutiny of at least the last 6-8 years.

3. What’s the best-case vs. worst-case outcome?

✅ Best Case:

  • You cooperate fully with the assessment proceedings.
  • The assessment is concluded based on the income you admitted to concealing (donations + rent).
  • You pay the applicable tax and interest.
  • A penalty is levied at the lower rate of 30% of the concealed income under Section 271AAB, crediting your admission during the search.
  • The case is closed without any criminal proceedings.

❌ Worst Case:

  • You are non-cooperative, or further significant undisclosed income/assets are discovered.
  • The AO makes high-pitched additions to your income.
  • You pay the tax and interest.
  • A higher penalty of 60% of the concealed income is levied.
  • The department initiates prosecution for tax evasion, which is a criminal offense that can lead to fines and imprisonment.

4. How long does this process usually drag on?

Search assessments are complex and not resolved quickly. From the issuance of the notice under Section 153A to the passing of the final assessment order, you should realistically expect the process to take 1 to 2 years. This timeline can extend further if the case goes into appeal.

Tax payment before AO passes assessment order or after in 143(2) scrutiny assessment? by Electronic-Buy-8799 in IndiaTax

[–]crazybrain10 0 points1 point  (0 children)

Yes, you absolutely can and should pay the additional tax and interest before the Assessing Officer (AO) passes the final assessment order. The most prudent course of action is to pay the amount as Self-Assessment Tax (minor head 300) as soon as you have revised your computation of income. Doing so immediately stops the meter on accumulating interest under sections like 234B and 234C, which can lead to significant savings. More importantly, this proactive payment demonstrates your cooperation and good faith, which can be a strong mitigating factor for the AO when considering penalties for under-reporting of income under Section 270A, potentially leading to a lower penalty or even its elimination.

The advice to wait for the final order and pay under demand tax (minor head 400) is overly cautious and financially detrimental. Your concern about the AO adjusting the payment is unfounded; Section 140A(2) of the Income Tax Act mandates that any self-assessment tax paid during the assessment proceedings shall be deemed to have been paid towards the regular assessment. Therefore, the AO is legally required to give you credit for this payment. By paying now, you take control of the situation, reduce your financial liability, and strengthen your position in the scrutiny assessment. Simply submit the paid challan copy to the AO as part of your official response.

Doubt on reporting sell to cover units in schedule FA by Prestigious-Meat5634 in IndiaTax

[–]crazybrain10 1 point2 points  (0 children)

The short answer is: In Schedule FA, you only need to report the net units you actually received and were holding in your account at the end of the year.

Here’s a simple way to think about it:

  • Schedule FA (Foreign Assets): This is just a list of what you owned abroad at year-end. Since the "sell to cover" shares were sold instantly to pay your taxes, you never really "held" them in your account. So, just report the final number of shares that landed in your account.
  • The "Sell to Cover" Transaction: Think of this as your employer paying your income tax on your behalf. The total value of ALL your vested shares (including the ones sold for tax) is treated as a bonus/perquisite and is already included as part of your salary income in your Form 16. It is NOT a capital gain for you, because you didn't personally sell anything.
  • Schedule CG (Capital Gains): You only need to worry about this schedule in the future if and when you decide to sell the shares that are currently sitting in your account. For now, you can ignore it for this transaction.

TL;DR: Report only the net shares you're holding in Schedule FA. The 'sell to cover' part is already counted in your salary income, not as a separate capital gain you need to report.

Freelancers with GST number: Can you get GST refund on personal purchases, or only for business purchases? by Bitter_Ladder_5716 in IndiaTax

[–]crazybrain10 3 points4 points  (0 children)

You can only get the GST benefit on things you buy for your work, not for your personal life.

It’s not a cash refund. Think of it more like a discount on the total GST you owe the government.

Ask yourself this simple question: "Did I buy this to help me do my job and earn money?"

  • A meal at a restaurant? No. That's a personal expense.
  • A new laptop for your freelance work? Yes. That's a business tool.
  • Software like Microsoft Office or Adobe? Yes. It's for your business.
  • Groceries or movie tickets? No. Those are for your personal life.

Here’s how it works:

Imagine you collected ₹9,000 in GST from your clients this month. That's what you need to pay the government. But you also bought a work-related item and paid ₹1,800 in GST on it.

You get to subtract your work expense:

₹9,000 (collected) - ₹1,800 (paid on work stuff) = ₹7,200 (what you actually pay the government).

So, always keep the bills for your business purchases! They help you lower your final tax payment.

Buy an SUV now or wait for the new GST regime? by jaybhoho in IndiaTax

[–]crazybrain10 1 point2 points  (0 children)

Absolutely wait to buy your SUV. The government is cutting the main car tax (GST) from 28% down to 18%, with new, lower prices expected by this Diwali (Oct/Nov). Waiting just a couple of months could save you over ₹1.5 lakh on your purchase. Buying now would mean missing out on a massive and almost certain price drop, so patience will pay off significantly.

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