Deduction under 80EEB

30 June 2024

deduction on EV(electric )Car in income tax for the FY 24-25 ???

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3 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178099 Points)
Replied 30 June 2024

Can be confirmed only after presentation of full budget.

Jeetu Manglani (177 Points)
Replied 13 July 2024

And FY 23-24??

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178099 Points)
Replied 13 July 2024

For FY 2023-24, you get a deduction of Rs. 1,50,000 under section 80EEB on the interest paid on loan taken to buy Electric vehicles.

Reduced the rate of GST on EVs to 5%.

In addition to this, EVs are exempt from road tax and registration costs in some states like Delhi, TN, UP etc,

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