Deduction in Respect of purchase of Electric Vehicle - (New) Section 132 / (Old) Section 80EEB

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....essee and Condition • Only an individual is eligible. Accordingly, Other than Individual persons are not eligible for such deduction. • The deduction is confined only to the interest component of the loan. • The loan should be obtained from a financial institution.  • The loan must be specifically taken for the purchase of an electric v....

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....eduction [ Section 132(3) ] The deduction: • shall not exceed Rs.1,50,000 • shall be available from tax year beginning on 1 April 2019 and subsequent tax years. Prohibition of Double Deduction [ Section 132(4) ] Where a deduction under this section is allowed for any interest referred to in sub-section (1), deduction shall not be allowed in respect of such i....