Just an additional note to add that leasing companies are reluctant to cover cars with terrible resale value (Fiat Petra, Palio etc.).
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Now lets say your car was for 5Lac. At the end of 4 years you would pay 50,000 and the car will be in your name. But lets say the depreciated value of car was 2L, so 1,5L is your benefit and you have to pay tax on that, so another 50,000 gone. So at the end of lease period 1L will go out of your pocket.
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What tax would that be?