Quirky and non-mainstream benefits of owning an electric vehicle

Let Go Of Fuel Efficiency Obsession - Indians Take Note!

A person who goes by the name DarthVeda on the online forum BHP shared something interesting with fellow car enthusiasts.

As we're aware, electric vehicles offer advantages such as reduced (non-existent) emissions, affordable pricing, remarkable speed, and so on. However, after having possessed an EV for a while, I've observed peculiar perks that aren't typically mentioned or prioritized.

I am going to write them below. Please contribute your own.

Here's what GTO had to share about this topic:

This is the opinion of BHPian Turbanator regarding the matter:

A discount of 40% is available for those who are business proprietors, self-employed individuals, or have rental earnings or other qualifications.

Check out this strategy provided by a BMW enthusiast for the iX model.

If you have an annual income of Rs 50 Lac from rental or business, you can expect to pay more than 15 Lac in taxes. However, if you take advantage of a buyback offer and purchase an iX, you can claim 50 Lac in depreciation in the first year. This will result in zero tax liability. If your income is higher or in subsequent years, you can save even more by reducing your interest payments.

Correction: I made a mistake when I talked about depreciation on rental income. After verifying, I found out that we can only avail a fixed deduction of 30% for rental income, and there is no additional allowance for depreciation. Therefore, the 40% depreciation applies only to specific situations, particularly for business or professional income.

This is what BHPian Shresth_EV expressed regarding the issue:

Take a look at the remarks and input from BHPians for additional perspectives and details.