π. ππ§ππ¨π¦π πππ±: Deduction of Rs. 1,50,000/- is allowed on the interest paid on loan taken to buy electric vehicles under section 80EEB of income Tax Act, 1961.
π. πππ: Under GST the electric vehicles are taxable at a rate of 5% instead of 28% which is levied on non-electric vehicles.
π. ππ«πππ§ πππ±:The government has announced a Green Tax policy in Budget 2021. Vehicles over a set of years (depending on the vehicle) would be subject to a new βGreen Taxβ on vehicle registration renewal. Personal vehicles will also be charged Green Tax at the time of renewal of Registration Certification after 15 years. Whereas, the electric vehicles will be exempt from the proposed green tax entirely.
π. ππ¨ π«π¨ππ πππ± ππ§π π«ππ π’π¬ππ«πππ’π¨π§ ππ¨π¬π: In order to promote the adoption of electric vehicles many states have come up with the policy of 100% exemption on road tax and registration cost for electric vehicles.