Deduction under Section 80EEB - Interest paid on loan taken for purchase of electric vehicle

Deduction on Electrical Vehicle for Interest Paid on Loan

As per the provisions of Section 80EEB, a taxpayer is allowed a deduction for interest paid on the loan amount taken for the purchase of an Electric Vehicle (EV), whether it is done for personal usage or regarding any business purposes. A taxpayer can avail deduction under this section till the loan is repaid.