Budget 2019: Rs 1.5 lakh income tax deduction on loans taken to buy e-vehicles
Budget 2019 has made provisions for further tax relief for Indian citizens. A tax deduction of Rs 1.5 lakh was announced in the Budget on loans taken to purchase electric vehicles.
In one more offer to advance electric vehicle in the Union Budget 2019, Finance Minister Nirmala Sitharaman reported that there will be a personal duty reasoning of Rs 1.5 lakh on credits taken to purchase e-vehicles.
Nirmala Sitharaman, who made her lady Budget discourse in the Parliament on Friday, reported an assessment finding of Rs 1.5 lakh on advances taken to purchase e-vehicles.
“Government has officially moved GST board to bring down the GST rate on electric vehicles (EV) from 12 percent to 5 percent. Likewise to make electronic vehicles reasonable for buyers our legislature will give extra personal duty derivation of Rs 1.5 lakh on the intrigue paid on the credits taken to buy EVs,” reported Nirmala Sitharaman.
“This prompts an advantage of Rs 2.5 lakh crore over the duty time of the credit for the advance payer,” Sitharaman said during her Budget discourse.
“This prompts an advantage of Rs 2.5 lakh crore over the duty time of the credit for the advance payer,” declared Sitharaman during her Budget discourse.
An intrigue subvention for up to Rs 2.5 lakh on purchasing electric vehicles was reported in the Budget discourse.
Sitharaman stated, “I thank the citizens who are capable natives.”
Sitharaman said thanks to citizens for their important commitment through charges for all-round advancement of the nation.
She likewise declared an extra Rs 1.5 lakh finding in annual expense on home credits.
The administration’s duty gathering has expanded to Rs 11.37 lakh crore in 2018-19 from Rs 6.37 lakh crore in 2013-14.
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