Income Tax Deduction For Electric Vehicle. The following conditions have to be fulfiled in order to claim deductions up to inr 1.5 lakhs in section 80eeb of the income tax act: Section 80eeb of the income tax act, 1961 allows individuals to claim a deduction of up to rs.
The following conditions have to be fulfiled in order to claim deductions up to inr 1.5 lakhs in section 80eeb of the income tax act: Section 80eeb of the income tax act, 1961 allows individuals to claim a deduction of up to rs.
Section 80Eeb Provides A Tax Deduction Of Up To โน1.5 Lakh On The Interest Paid For A Loan Taken To Acquire An Electric Vehicle.
Extension of perquisite rules to cover electric vehicles:
You Get A Deduction Of Rs.
The goal of the lower gst is to lower the cost of electric vehicles for end users.
Currently, India Has 2 Million Electric Vehicles (Evs) On Road.
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When Paying Off An Ev Loan, A Total Tax Exemption Of Up To Rs 1,50,000 Is Available Under Section 80Eeb.
You get a deduction of rs.
This Tax Exemption On Electric Vehicles Is Allowed For The Interest Paid On The Loan Taken But Not On Repayment Of The Loan.
Extension of perquisite rules to cover electric vehicles:
Any Interest Payments Exceeding โน1,50,000 Can Be.