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Monday, Sep 20, 2021
Outlook.com
Outlook.com

Tax cut on electronic vehicle loans will boost sales

Tax cut on electronic vehicle loans will boost sales
outlookindia.com
1970-01-01T05:30:00+0530
Tax cut on electronic vehicle loans will boost sales

Budget 2019 has announced an income tax deduction of Rs 1.5 lakh on the interest paid on loans taken to purchase electronic vehicles (EVs). The move will motivate buyers to purchase these vehicles and banks to aggressively step into financing them.

The reduction in GST rates on electric vehicles(EV) from 12 per cent to 5 per cent will also motivate manufacturers of EVs.

(Abhijeet Sinha is National Programme Director - EODB at ASSAR on E -Vehicles. The views expressed are personal)

--IANS

rtp


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: IANS

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