Electric Vehicles (EV) are not only cost-effective but also have tax advantages in India. EV customers can avail of tax benefits on their loans under the section 80 EEB.
Tax deductions
Persons opting to buy an EV on loan will be eligible for tax deductions . This tax benefit is an attractive proposition for salaried professionals. A total tax exemption of up Rs 1,50,000 can be availed when paying off the EV loan. It is available for both 4-wheeler and 2-wheeler EV purchases. The tax relief can only be availed by individuals.
