Section 80EEB of IT Act - Electric Vehicle Tax Deduction

As an NRI, You Cannot claim the Deductions Mentioned Under Section 80EEB if You Opt for the New Tax Regime. The Deduction is Available Only if the Taxpayer Has Opted for the Old Tax Regime.

Yes, the Deduction Under Section 80EEB of the Income Tax Act Can Be Claimed Every Year Until the Taxpayer Has Fully Repaid Their Loan for Purchasing the Electric Vehicle.

The Maximum Deduction Allowed Under Section 80EEB is Rs 1.5 Lakhs.

Yes, Section 80EEB is Also Applicable to the Electric Scooters.

To Check the Deduction Under Section 80EEB, the Individual Taxpayer is Required to Get an Interest Certificate From the Lender. This Certificate States the Total Interest You Have Paid for the Financial Year.