Tax Benefit On Electric Vehicle In India. Features of 80eeb deduction to avail income tax benefit on ev. The buyers of electric vehicles can avail of a tax deduction benefit under section 80eeb of the income tax act.
India’s income tax rules consider cars for personal use and as luxury products, for which the consumers don’t receive any tax benefits on vehicle loans. In a bid to promote the adoption of electric vehicles (evs) and combat climate change, the indian government introduced section.
The Union Budget 2023 Made Green Growth One Of The Top 7 Priorities.
If an individual purchases an electrical vehicle (ev) on loan,.
This Means That For Those Taking A Loan To Purchase An Electric Vehicle Stand To Get More Tax Benefits With The New Budget.
This new section offers a deduction of up to inr 1.5 lakhs with respect to the interest on the loan taken by an individual for the purchase of an electric vehicle.
1,50,000 Under Section 80Eeb On The Interest Paid On Loan Taken To Buy Electric Vehicles.
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Features Of 80Eeb Deduction To Avail Income Tax Benefit On Ev.
This new section offers a deduction of up to inr 1.5 lakhs with respect to the interest on the loan taken by an individual for the purchase of an electric vehicle.
Under The New Section 80Eeb, A Person Buying An Electric Vehicle In Loan Can Claim A Deduction In.
The buyers of electric vehicles can avail of a tax deduction benefit under section 80eeb of the income tax act.