Electric vehicle purchase

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B.Com
155 Points Posted on 10 March 2023
My client purchase electric car for firm use in income tax tax what r the benefit availed... 1 interest on loan available or not 2.depreciation availed or not as I seen in google int on loan only for individual availed for only 1st year what about firm purple benefit please guide us... amit
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On 10 March 2023 at 19:49 Report
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Quick Summary
This discussion explores the tax benefits available to firms purchasing electric vehicles for business use. Key questions revolve around claiming interest on loans and depreciation. The consensus is that firms can claim normal depreciation and interest expenses on loans without specific limits, unlike individual claims which may have restrictions.

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Practising CA
8954 Points Posted on 11 March 2023
Firm can claim normal depreciation and interest expense on loan without any limits. So no question of any other section / deduction / limit.
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On 11 March 2023 at 00:06
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B.Com
155 Points Posted on 11 March 2023
Hi please reply
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On 11 March 2023 at 11:44
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14 Points Posted on 12 March 2023
U can claim 80EEB Deduction on electric motor purchase
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On 12 March 2023 at 12:23

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