WebApr 6, 2024 · Updated: 06 Apr 2024, 07:25 PM IST Vipul Das. In accordance with Section 80C of the Income Tax Act, NPS Tier 1 accounts are eligible for a deduction of up to ₹ 1.5 lakh from taxable income and ... Web80EEB: A tax deduction of up to Rs.1.50 Lakhs on the interest paid on loan taken to purchase electric vehicles, between 01-04-2024 to 31-03-2024. Please note that the above deductions are available only when the loan is taken from …
Section 80EEB Deduction : Interest Paid on Electric Vehicle Loan
WebMar 13, 2024 · Under Section 80EEB of Income Tax Act, you can claim tax deduction benefits of up to ₹1.5 lakh on the interest paid towards a loan you have taken specifically … WebSep 26, 2024 · The loan should have been approved during the period 1 st April 2024 to 31 st March 2024. The maximum amount of deduction available under section 80EEB is INR 1.50 Lakhs. The deduction of interest amount shall be available under section 80EEB from 1 st April 2024 till the repayment of a loan. Once the deduction with respect to interest … los arroyos homeowners association arizona
Section 80 EEB: Tax Exemption on Purchase of Electric …
WebFeb 7, 2024 · Amount of deduction under Section 80EEB. According to Section 80EEB, one can claim a deduction for interest payments up to Rs 1,50,000. This will enable individuals owing an EV for personal use to claim a deduction on interest paid on the vehicle loan. In addition, an individual can also claim a tax deduction of up to Rs … WebApr 9, 2024 · 80EEB Interest on Loan for Electric Vechile . Section 80EEB of the Income Tax Act allows you to claim tax savings of up to Rs 1.5 lakh on interest paid on a loan made specifically to purchase an electric car. You can claim tax deduction benefits only if the loan is approved between 1 January 2024 and 31 March 2024. Donations WebFeb 2, 2024 · However, if it is used for personal purpose, you can claim deduction of interest u/s 80EEB in your ITR since you would be reporting both personal and business income in the ITR (under your PAN). As per the Income Tax Act, the deduction under Section 80EEB is applicable from 1st April 2024 i.e. FY 2024-21. losartan hctz 100-25 shortage