Deduction On Electric Vehicle Loan Interest. The electric vehicle loan must be. By providing tax deductions on the loan interest, governments aim to reduce the overall cost of owning an electric vehicle.
Nonbank lenders offer consumers another financing option. Hence, if you have taken a loan to purchase an electric vehicle (ev), then you will be entitled for a deduction regarding payment of interest on such loan u/s 80eeb of the i.
Section 80Eeb Of The Income Tax Act Offers A Tax Deduction Benefit Of Up To โน1.5 Lakh On The.
The loan must be sanctioned anytime during the period starting from 1st april 2019 till 31st march 2023.
The Electric Vehicle Loan Must Be.
Hence, if you have taken a loan to purchase an electric vehicle (ev), then you will be entitled for a deduction regarding payment of interest on such loan u/s 80eeb of the i.
Under Section 80Eeb, Individuals Can Avail Of Tax Deductions Of Up To โน1,50,000 On The Interest Paid For The Loan Amount Used To Purchase Electric Vehicles,.
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The Electric Vehicle Loan Must Be.
Section 80eeb of the income tax act, 1961, deals with the interest payments made on electric vehicle loans for personal or business use.
1.5 Lakhs For A Financial Year.
You donโt need a bank to get an auto loan.
According To Section 80Eeb, One Can Claim A Deduction For Interest Payments Up To Rs 1,50,000.