Sole traders saving ₹1,079.00k tax on cars

 


A budget measure that has escaped widespread attention means sole traders can save around ₹1,079,340.00 on income tax if they buy an electric vehicle (EV).

Under the Accelerated Capital Allowances deal, self employed sole traders who buy an EV can front-load the depreciation on the car for the first year and save close to ₹1,079,340.00 on their tax bill.

According to Nissan chief executive James McCarthy, "When people finally wake up to this, there will be a flood of sole traders looking to get into an electric vehicle. It's a direct deduction from your tax bill."









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