Chapter XII-DASPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC )
Part CProcedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM )
Chapter XX-BREQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT )
Deduction for electric vehicle loan interest limited and available where loan sanctioned within specified scheme period. Interest paid on loans taken from a financial institution for purchase of an electric vehicle is deductible by an individual, subject to a cap of one lakh ... Summary
Deduction for electric vehicle loan interest limited and available where loan sanctioned within specified scheme period.
Interest paid on loans taken from a financial institution for purchase of an electric vehicle is deductible by an individual, subject to a cap of one lakh fifty thousand rupees; the deduction is available for assessment years beginning on 1 April 2020 and subsequent years where the loan was sanctioned between 1 April 2019 and 31 March 2023, and such interest cannot be deducted under any other provision for the same or any other assessment year.
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