TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Taxpayers can claim up to INR 150,000 deduction on EV loan interest for loans sanctioned between 2019-2023.</h1> An individual taxpayer can claim a deduction on the interest paid for a loan taken from a financial institution to purchase an electric vehicle. The loan must have been sanctioned between April 1, 2019, and March 31, 2023. The maximum deduction allowed is INR 150,000, applicable from the tax year starting April 1, 2019, onwards. This deduction is exclusive and cannot be claimed under any other provision for the same interest. An electric vehicle is defined as one powered solely by an electric motor with a traction battery and regenerative braking system. A financial institution includes banks and non-banking financial companies.
TaxTMI 
TaxTMI 
