Section 80EEB EV Loan Calculator
See your electric-vehicle loan interest deduction — up to ₹1,50,000 — and the exact tax you save, live as you type.
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- Rules cited on the page
Enter your figures — the result on the right updates as you type.
Deduction & tax-saving breakdown
Claim 80EEB correctly + file your ITR with a CA
We verify your loan sanction date and lender, and claim every rupee you're entitled to.
Disclaimer: Indicative estimate for individual residents under the old tax regime. Section 80EEB applies only to EV loans sanctioned between 1 Apr 2019 and 31 Mar 2023. Rates per the Income-tax Act, 1961.
Section 80EEB — the EV loan deduction at a glance
Section 80EEB lets an individual deduct the interest paid on a loan taken to buy an electric vehicle — up to ₹1,50,000 a year. The loan must be sanctioned by a bank or NBFC between 1 April 2019 and 31 March 2023. It is a one-time benefit that continues every year until the loan is fully repaid, and is available only under the old tax regime.
How much tax you save by slab
Your saving equals the eligible deduction (interest paid, capped at ₹1,50,000) multiplied by your highest income-tax slab rate. The higher your slab, the more each rupee of interest saves you.
| 5% slab | ₹7,500 |
| 20% slab | ₹30,000 |
| 30% slab | ₹45,000 |
| 5% slab | ₹4,000 |
| 20% slab | ₹16,000 |
| 30% slab | ₹24,000 |
Worked examples
The deduction is the lower of your actual interest paid and ₹1,50,000. Anything you pay above the cap earns no deduction under 80EEB — though if the EV is used for business, that excess interest can be claimed as a business expense instead.
Eligibility & key terms explained
Who can claim
Only an individual taxpayer. Companies, firms, HUFs and other entities cannot claim Section 80EEB. The loan must be in the individual's name.
Loan sanction window
The loan must be sanctioned between 1 April 2019 and 31 March 2023 from a bank or a specified NBFC. The sanction date — not the disbursement date — is what matters.
Electric vehicle only
The loan must be for the purchase of an electric vehicle powered solely by an electric motor with a traction battery. Hybrids and petrol/diesel vehicles do not qualify.
One-time, recurring benefit
80EEB is a one-time eligibility tied to a qualifying loan, but you keep claiming the interest each year until the loan is fully repaid, subject to the ₹1.5L annual cap.
Questions people ask
Short answers on Section 80EEB EV Loan. Tap a question to open it.
01What does section 80EEB allow?
A deduction of up to ₹1,50,000 a year for interest on a loan taken to purchase an electric vehicle, whether a car or a two-wheeler.
02What are the conditions?
The loan must be from a bank or a notified non-banking financial company, and must have been sanctioned between 1 April 2019 and 31 March 2023. The deduction continues for the life of the loan once eligibility is established.
03Can a business claim it?
The deduction is for individuals. Where the vehicle is used for business, the interest is instead claimed as a business expense along with depreciation, and 80EEB is not additionally available on that portion.
04Does it apply to a hybrid or CNG vehicle?
No. The section applies only to an electric vehicle, defined as one powered exclusively by an electric motor with traction energy from a traction battery.
05Is 80EEB available under the new regime?
No. It is a Chapter VI-A deduction and applies only under the old regime.
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Disclaimer: This tool gives indicative results for general guidance only and is not professional advice. Please verify with a qualified CA before acting on the numbers.