Income Tax Benefits on Electric Car Loan Repayment under Sec 80EEB
What are the real tax benefits?
The Union Budget 2019-20
brought good news if you were planning to purchase an electric bike or car on
loan.
A new section 80EEB was
introduced to provide deduction up to Rs. 1.5 lakh on the interest paid on
electric vehicle loans.
Car loans are medium
value and short (or medium) term loans. Given this peculiarity about car loans,
how much tax savings does this section really provide?
In this post, let's dig deeper, work out the numbers and assess the
true impact. Click here to continue.
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