Electric Vehicle Loan Interest Exemption. As per this section, individuals can avail for a deduction amount of up to rs 1,50,000 per annum on payment of interest on a loan secured for the purchase of. Section 80eeb of the income tax act offers a tax deduction benefit of up to ₹1.5 lakh on the interest component of a loan taken to purchase an electric vehicle.
Calculating the deduction amount under 80eeb. Interest payments above ₹ 1.5 lakhs.
Calculating The Deduction Amount Under 80Eeb.
Section 80eeb of income tax act helps you to claim electric vehicle loan interest amount up to rs.
Currently, India Has 2 Million Electric Vehicles (Evs) On Road.
Get to know about tax deduction on loan interest while buying electric vehicles under section 80eeb of income tax act 1961.
The Loan Must Be Availed Between April 1, 2019, And March 31, 2023.
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Whether An Individual Taxpayer Possesses An Electric Vehicle For Personal Or Business Use, This Deduction Allows For The Claiming Of.
If you buy an electric car priced at ₹ 22 lakh and avail of a vehicle loan of ₹ 20 lakh at.
Presently, The Interest On Loans Sanctioned To Purchase Electric Vehicles.
Should you choose to buy an ev with the help of a loan, you can avail of deductions up to a maximum of rs.