Income Tax Rebate On Purchase Of Electric Vehicle Details. In addition to this, evs are exempt from road tax and. Not just the income tax benefit, an ev purchase will also bring you tax benefit on gst, with the government having cut the rate to 5% from the earlier 12%.
Section 80eeb deduction in respect of purchase of electric vehicle income tax act 1961 2021". The ministry of road transport & highways has advised state.
The Income Tax Act Of 1961'S Section 80 Eeb Focuses On The Interest Payments Made On Loans Taken Out To Purchase An Electric Vehicle For Personal Or.
1.5 lakhs on the interest component of your personal loan emis.
Gst Rate To Benefit Ev Purchasers, The Government Has Reduced The Gst Rate For Evs From 12% To 5.
You get a deduction of rs.
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%.
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Section 80Eeb Of The Income Tax Act, 1961, Enables Eligible Individuals To Avail A Tax Deduction Of Up To โน 1.5 Lakh On The Interest Paid For A Loan Taken Exclusively For Purchasing An Electric Vehicle.
Section 80eeb of the income tax act enables individuals to get tax savings by claiming a deduction on interest payments on loans availed for purchasing evs.
Gst Rate To Benefit Ev Purchasers, The Government Has Reduced The Gst Rate For Evs From 12% To 5.
A deduction of up to rs 1,50,000 for interest payments is available under section 80eeb.