Home The Quint Tax cut on electronic vehicle loans will boost sales and promote Green...

Tax cut on electronic vehicle loans will boost sales and promote Green Environment in India

(Syndicated story. Not edited by The Quint.)By Abhijeet SinhaBudget 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 percent to 5 percent will also motivate manufacturers of EVs.(Abhijeet Sinha is National Programme Director – EODB at ASSAR on E -Vehicles. The views expressed are personal)–IANSrtp

(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)

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(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)

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