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Posting as :
works at
You are currently posting as works at

Benefit is that you can claim fuel, maintenanace charges as tax free deductions per year i.e. you can get those deducted from your total taxable income. Simple Words: Money spent on maintenance and petrol is not taxable. You have to submit the proof for same and the submitted amount will be deducted from your total taxable income while calculating taxes at the end of FY.

Things to look out for:
1. At what interest rate you're getting the car lease
2. How much can be claimed on fuel and maintenance
NOTE: This is beneficial only when you're planning to stay in Cisco/same company for the total lease time of your car. If you leave before lease time gets over, you'll have to pay the interest incured till the time you leave which will cost you more

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Correct

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For which grade?

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in cisco, grade 8 and above are eligible for car lease

At what grade is it allowed?

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.

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+F

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Usually how much will be the lease amount and interest amount?

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