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Section 80EEB — EV Loan Tax
One-time benefit for EV loans sanctioned between 1 Apr 2019 and 31 Mar 2023. Up to ₹1.5 lakh interest deduction per FY, in addition to other home/vehicle loan benefits. Old regime only.
₹1,20,000
30%
Eligible deduction
₹1,20,000
cap: ₹1,50,000
Tax saved: ₹37,440
FAQ
Can I claim if I bought a used EV?
No — only loans for first-purchase of EV. Used EV doesn't qualify.
New vehicle in 2026 — am I too late?
For 80EEB benefits — yes. The benefit ended 31 Mar 2023. Loans sanctioned later don't qualify even if you're still paying interest.
Old vs new regime?
Old regime only. Under new regime (default for FY 2025-26), 80EEB is not available.