Struggling to save on taxes each year? What if we told you that your mobile phone and laptop could actually help you reduce your taxable income? Yes, you read that right! If you use these essential devices for work or business, you might be eligible for significant tax exemptions. The new tax regime still allows employers to reimburse the cost of mobile phones and laptops if they are used for official purposes, and some companies even let you purchase these items after 12 months of use. This can lead to substantial savings, especially for salaried individuals or business owners looking to optimize their tax liabilities.

The process often involves a tripartite agreement between the employer, employee, and a leasing company. The company acquires the device and leases it to the employer, who then permits the employee to use it for official work. After a specified period, typically one or two years, the employer might even sell the phone or laptop to the employee at a discounted rate. Imagine buying a new mobile for ₹30,000 and a laptop for ₹50,000; that total of ₹80,000 could be deducted from your taxable income. For instance, if an employee earns ₹1 lakh monthly and leases a device for ₹10,000 a month, their taxable income is calculated on ₹90,000 instead of ₹1 lakh. For someone in the 30% tax bracket, this translates to a saving of ₹3,000 per month, or ₹36,000 annually! If a device costs ₹1.1 lakh and an employee pays ₹10,000 monthly for 12 months (totaling ₹1.2 lakh), they save ₹36,000 through tax benefits. If they then buy the device for ₹6,000 at the end of the lease, their total cost is ₹90,000 – still a ₹20,000 gain compared to an outright purchase. Remember, the purchase bill should be in your name or your business’s name, and the devices must primarily be used for professional purposes.