Question
Which section of the Income Tax Act, 1961, allows a
deduction of interest paid on loan taken for purchase of an electric vehicle?Solution
Section 80EEB allows a deduction of up to Rs. 1.5 lakh on the interest paid on loan taken by an individual for the purchase of an electric vehicle. The deduction is available for the assessment year beginning on the 1st day of April, 2020 and subsequent assessment years.
More Accounts Questions
- What will come in the place of question mark (?) in the given expression?
40% of (320 ÷ 4) + 2² X 25 = ? + 42 1240 ÷ ? = 242 + 123 – 514 × 4
1428 ÷ 17 = ? % of 120
18(1/3) + 9(2/3) – 10(1/3) = 1(2/3) + ?
√ 225 x 24 - √ 144 x 18 = ?
Find the value of 40 ÷ 5 of 6 × [3 ÷ 6 × (12 – 6)] – (15 ÷ 3 of 30):
44% of 1900 + 25% of ? = 9000
- What will come in the place of question mark (?) in the given expression?
(24²–45% of 600 + 176 – 32 × 11) = ? 65% of 102 + 14 = ? – 20
(64/25)? × (125/512)?-1 = 5/8
