WebApr 1, 2024 · The Income Tax Act of 1961's Section 80 EEB focuses on the interest payments made on loans taken out to purchase an electric vehicle for personal or … WebDec 18, 2024 · From FY 2024-2024 onwards, tax incentives under Section 80EEB are available. People who choose to acquire an EV on loan will be eligible for a tax deduction of Rs 1.5 lakh on interest paid on the loan amount under Section 80EEB. For salaried professionals, this tax savings makes buying an EV as their next vehicle an appealing …
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Web11.28 DIRECT TAX LAWS as referred to in section 2(h) of the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002, for the maintenance of a dependant, being a person with disability qualifies for deduction. (b) The scheme should provide for payment of annuity or a lump sum amount for the benefit of a dependant, being a person with disability, in the … Web1 day ago · Deduction on Interest Paid: Under section 24(b) of the Income Tax Act, 1961, an individual can claim a deduction on the interest paid on a home loan. The maximum deduction allowed under this section is Rs. 2 lakhs per year, if the property is self-occupied. ... Section 80EEB: Deduction in respect of interest up to Rs 1.5 lakh on loan taken for ... flowers in arizona lake havasu city
Section 80EEB: Tax Benefits on Purchase of Electric Vehicles …
Web22 [Deduction in respect of interest on loan taken for certain house property.. 80EEA. (1) In computing the total income of an assessee, being an individual not eligible to claim deduction under section 80EE, there shall be deducted, in accordance with and subject to the provisions of this section, interest payable on loan taken by him from any financial … WebAfter section 80EE of the Income-tax Act, the following sections shall be inserted with effect from the 1st day of April, 2024, namely:— '80EEA. Deduction in respect of interest on loan … WebNov 20, 2024 · The new income tax section 80EEB allows a deduction for the interest paid on the loan taken for the purchase of EV. This section is applicable from AY 2024-21. In … flowers in a silver vase