Recently, Kartik Aaryan became the proud owner of the country’s first McLaren GT. Following the enormous success of Bhool Bhulaiyya 2, the film’s producer, Bhushan Kumar, gave the well-known star a McLaren. After the actor posted pictures of himself with the orange supercar to social media, the platform was quickly inundated with congratulations. Soon, a discussion arose regarding the tax he would have had to pay on the supercar. In fact, a viral video revealed the amount of tax that had to be paid on this expensive gift.
The CA YouTuber claims that there are several possible outcomes when determining the tax due on this gift. Bhushan Kumar will receive a tax benefit of Rs 2 crore if McLaren is depicted as a cost associated with the film (considering the on-road price to be Rs 5 Crore). Kartik will then be required to pay Rs 2 Crore because the gift will be considered an immovable object when calculating his salary. A few sections under which this case will be evaluated are mentioned by the YouTuber. Kartik is required to pay a tax of Rs 2 crore in each of these circumstances.
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However, there is one scene where he could have got the McLaren for free. That is if Bhushan Kumar declared that he gifted the supercar to the Bollywood star from his personal wealth and was not, in any way, part of the movie business. In that case, Bhushan Kumar would have had to bear the taxes incurred on McLaren, and Kartik Aaryan would have not paid anything. However, in the movie industry, that is not too common. However, as it turns out, the actor was never liable to pay even a penny on the McLaren GT received. This is simply because the car is not registered to the actor. It has T-Series registration. This indicates that Kartik is merely using the car, not owning it. The owner, T-Series, has already paid the full cost of the car but may later claim depreciation tax.
McLaren GT 720S Specs
The 4.0-liter V8 turbocharged engine that powers the McLaren GT produces a maximum of 620 PS and 630 Nm of torque. A 7-speed DCT gearbox coupled to this potent engine allows the vehicle to accelerate from 0 to 100 km/h in just 3.1 seconds and from 0 to 200 km/h in just 9 seconds. The McLaren GT is a rear-wheel drive sports car that has paddle shifters for improved control. The McLaren costs Rs 4.70 crore in India, ex-showroom.
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