Tax Benefit On Electric Vehicles. Section 80eeb of the income tax act, 1961, enables eligible individuals to avail a tax deduction of up to ₹ 1.5 lakh on the interest paid for a loan taken exclusively. The deduction will be available for both.
Loan amount limit:the deduction is applicable on the interest payments on loans sanctioned on or after april 1, 2019, up to march 31, 2023, with a maximum limit of. The ministry of road transport & highways has advised state.
The Government Of India Has Also Reduced The Gst On Electric Vehicles From 12% To 5%.
As per section 80eeb, buyers would get a total exemption on taxes of up to 150000 inr when paying off an ev.
Section 80Eeb Gives Tax Deductions Of Up To ₹1,50,000 On Interest Paid On Loan Amount On The Purchase Of Electric Vehicle.
It specifies income tax rules and benefits for those who.
The Person Can Claim ₹1.5Lakhs Under The Law.
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A Deduction Of Up To Rs 1,50,000 For Interest Payments Is Available Under Section 80Eeb.
You get a deduction of rs.
According To The Union Budget 2019, The Government Of India Is Offering A Tax Exemption For The Purchase Of Electric Vehicles,.
In case of interest payments above the given one, a.
Provided As A Deduction On The Tax Amount Payable By An Individual To The Government;