California Electric Vehicle Deductions 80eeb. It allows taxpayers to deduct the interest paid on loans used to purchase an electric vehicle. Should you choose to buy an ev with the help of a loan, you can avail of deductions up to a maximum of rs.
1.5 lakhs for a financial year. According to section 80eeb, interest payments up to ₹1.5 lakhs are deductible.
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.
1,50,000 under section 80eeb on the interest paid on loan taken to buy electric vehicles.
A Deduction Of Up To 1,50,000 Is Permitted Under Section 80 Eeb.
You can purchase an electric car for your own usage or for use in your business as an assessee.
You Get A Deduction Of Rs.
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Currently, India Has 2 Million Electric Vehicles (Evs) On Road.
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.
One Of The Most Important Aspects Of Mitigating Climate Change And Promoting Green Growth Is Electric Mobility.
(1) in computing the total income of an assessee, being an individual, there shall be deducted, in accordance with and subject to the provisions of this section,.
The Loan Needs To Be Sanctioned Between 01/04/2019 And 31/03/2023.