Electric Vehicle Tax Benefit 2024. The first 6,000 electric cars or total electric cars in 5 years, whichever is less, will be charged 1% (one percent) motor vehicle tax. Do you know that you can avail tax deduction on loan taken for purchase of electric vehicle under section 80eeb on income tax act?

Section 80eeb of the income tax act allows individual taxpayers to claim tax deductions on the interest paid on loans taken for purchasing electric vehicles. 7, 2024 updated 3:57 p.m.