Interest on Electric Vehicle

In the union budget 2019, the central government has announced an incentive for buying electric vehicle. In the budget speech, the finance minister of India has said that advanced battery and registered Electric vehicles will be incentivized under the scheme. A new section of Income Tax Act, 1961-section 80EEB has been introduced allowing a deduction for interest paid on loan taken for the purchase of electric vehicles from the Assessment… Read More »Section 80EEB of Income Tax Act: Interest on Electric Vehicle