Tax Deduction For Electric Vehicle Purchase. To promote the use of electric vehicles in india, the government come up with new section. 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) 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 section is applicable to individual taxpayers and offers a tax deduction of up to ₹ 1.5.
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.
You get a deduction of rs.
When Paying Off An Ev Loan, A Total Tax Exemption Of Up To Rs 1,50,000 Is Available Under Section 80Eeb.
In 2019, the government announced tax benefits under the new section 80eeb.
Calculating The Deduction Amount Under 80Eeb.
Images References :
1,50,000 Under Section 80Eeb On The Interest Paid On Loan Taken To Buy Electric Vehicles.
When paying off an ev loan, a total tax exemption of up to rs 1,50,000 is available under section 80eeb.
Quantum Of Deduction Under Section 80Eeb:
Section 80eeb deduction in respect of purchase of electric vehicle income tax act 1961 2021".
