Electric Vehicle Tax Exemption. Quantum of deduction under section 80eeb: As per section 80eeb, buyers would get a total exemption on taxes of up to 150000 inr when paying off an ev.
In simple terms, the total amount of deduction an individual taxpayer can claim under section 80eeb is the lower than: Buying an electric vehicle with a vehicle loan can make you eligible for income tax benefits under the 80eeb.
Quantum Of Deduction Under Section 80Eeb:
In a letter written to the chief secretary on wednesday, the andhra pradesh chambers referring to the 12 per cent life tax on electric vehicles (evs), both on.
Vehicles Are Exempt If The Following Apply:
Tax benefit under section 80eeb for ev purchase loan.
Mobility Vehicles And Powered Wheelchairs.
Images References :
You Might Feel That Purchasing An Electric Vehicle Is Costlier Than Buying An Internal Combustion Engine Vehicle, But That Is Only Because Of The Higher Upfront Cost.
Quantum of deduction under section 80eeb:
If An Individual Takes A Loan For Business Purposes To Buy An Electric Vehicle, They Can Claim An 80Eeb Tax Rebate On Interest Paid Exceeding โน1.5 Lakh.
This tax exemption on electric vehicles is allowed for the interest paid on the loan taken but not on repayment of the loan.