Electric Vehicle Deduction Income Tax. However, it’s essential to note the. A deduction of up to rs 1,50,000 for interest payments is available under section 80eeb.
The income tax act of 1961’s section 80 eeb focuses on the interest payments made on loans taken out to purchase an electric vehicle for personal or. Section 80eeb provides a tax deduction of up to ₹1.5 lakh on the interest paid for a loan taken to acquire an electric vehicle.
In Addition To This, Evs Are Exempt From Road Tax And.
This tax exemption on electric vehicles is allowed for the interest paid on the loan taken but not on repayment of the loan.
The Deduction Will Be Available For Both.
Further, evs are not subject to road tax.
The Deduction Will Be Allowed For The Loan Sanctioned Between The 1St Of April 2019 And The.
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This Tax Exemption On Electric Vehicles Is Allowed For The Interest Paid On The Loan Taken But Not On Repayment Of The Loan.
So if you take a loan of ₹1,00,000 for the.
Further, Evs Are Not Subject To Road Tax.
A deduction of up to rs 1,50,000 for interest payments is available under section 80eeb.
When Paying Off An Ev Loan, A Total Tax Exemption Of Up To Rs 1,50,000 Is Available Under Section 80Eeb.
