Electric Vehicle Rebate In Income Taxation. 1,50,000 under section 80eeb on the interest paid on loan taken to buy electric vehicles. In a bid to make electric vehicles more affordable, the government has reduced the goods and services tax (gst) on evs from 12% to 5%.
Get a tax rebate on interest paid on a vehicle loan taken to purchase an electric vehicle. The loan must be obtained from either the bank or a specified nbfc.
There Are Plenty Of Electric Vehicle Models On The Market, And With Increased Sales, Some Automakers Are Planning To Introduce New Models.
Ev buyers can claim up to ₹1.5.
Quantum Of Deduction Under Section 80Eeb:
In 2019, the government announced tax benefits under the new section 80eeb.
In Addition To This, Evs Are Exempt From Road Tax And.
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The Government Of India Has Introduced A New Section In The Income Tax Act, The 80Eeb, Which Offers Ev Owners A Benefit Of Up To ₹1.5 Lakh Every Fina.
1,50,000 under section 80eeb on the interest paid on loan taken to buy electric vehicles.
Section 80Eeb Is A New Section Added To The Income Tax Act Of 1961 And Introduced By The Indian Government In The Union Budget 2019.
For example, maharashtra has granted subsidy on road tax on electric cars up to rs 1.5 lakh.
The Section Is Applicable To Individual Taxpayers And Offers A Tax Deduction Of Up To ₹ 1.5.