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Deduction under 80EEB
deduction on EV(electric )Car in income tax for the FY 24-25 ???
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Can be confirmed only after presentation of full budget.
And FY 23-24??
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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