Stamp Duty Value Rs.
45 Lakhs.
When should your loan be sanctioned? 19th April 2019 to 31st
March 2022.
Same condition is there in future also.
The day you go to take loan, the day your loan is
sanctioned, that day you should not have any other house
property.
And if you fall in the previous section also, then in this
section you will get deduction of
Rs. 1.5 Lakhs.
This is maximum deduction of Rs.
1.5 Lakhs.
And this is over and above deduction available under
Section 24B.
There they are giving you interest deduction.
But in this section, you will get deduction of Rs.
1.5 Lakhs.
This is maximum deduction of
Rs. 1.5 Lakhs.
And this is over and above deduction available under
Section 24B.
There they are giving you interest deduction.
But if you are not able to claim there, then you can claim
balance amount of interest here.
Like I gave an example of Rs.
3 Lakhs.
There you had claimed maximum of Rs.
2 Lakhs in house property.
Right? How much was remaining? Rs.
1 Lakh.
Here there is a limit of Rs.
1.5 Lakhs.
So here you can claim remaining Rs.
1 Lakh.
First Rs.
3 Lakhs of interest will go from your pocket.
But later the money you will give, out of your gross total
income, you will get deduction of Rs.
Lakhs. There is a limit of Rs.
1.5 Lakhs in this section.
See this, friends.
Is there any problem? My brothers and sisters, is there any
problem? I have never shown my heart like this.
Is there any problem with me, friends? No, sir.
What problem do you have? You teach so well.
You are so handsome, sir.
You are so cool, sir.
You teach at our level, friends.
Friends, this is what I always try to do.
That I make you so comfortable that the word of Income Tax
gets spoiled.
My aim is that whatever we say, even if the person does not
take the class, but whatever he is listening to us, it
should be good for him.
Do you believe that our director sir, his paper on Income
Tax, he scored 80 marks out of 100.
80 marks in Income Tax paper, out of 100.
At the M.Com level.
You see, how many benefits are there just by listening to
the talks.
And his income has also reduced a lot.
I mean, I will not tell you how much income he had on this
platform.
But in his income, his tax used to be Rs.
Rs. 50,000 per year, before taking the class.
Now his tax has become zero.
So friends, these are some of the benefits I am telling you.
Just do not consider studies as studies.
Consider it as a skill of life.
Income Tax is a skill of life.
Like driving a car is a skill.
Working on a computer, driving a computer is a skill.
Knowing Income Tax is also a skill.
If you want to live in India, you should know all these
things.
Where are your benefits, where are your losses, who can cut
you where.
You should know this, friends.
Friends, let us move ahead.
Section 80 EEB.
Friends, we will remember, wherever you live, in whichever
city you live, you must be reading in the newspapers that
around Diwali, pollution increases a lot in Delhi.
It increases so much that, I am telling you in front of
you, who is walking in front of you, at a distance of 10-5
meters, you will not be able to see.
There is so much fog, so much smoke. On top of that, the
pollution of cars is different.
And what is Delhi? Our political capital.
All the top politicians live here.
They are also facing problems.
And in this country, friends, some policy or some work
happens when a politician is in trouble.
Although the people die, but when a politician is in
trouble, then some good policy is made in this country.
So, the politicians are facing problems.
So, they said that the pollution that is increasing, first
of all, the pollution is already very high.
On top of that, you are taking these cars.
The pollution spreads by the movement of the cars.
Why don't we make such a car, which doesn't run on petrol,
which runs on electricity? This is right.
We bring an electric vehicle to the market.
Then you will see, gradually, you will see some supply of
electric vehicles.
On the road, you will see a green number plate, where the
car is parked.
So, understand, it is an electric vehicle.
It runs on electricity.
If you charge it, then the car will run.
The government will promote the purchase of electric
vehicles.
Now, how will the government promote? Our finance minister
will not come to your house and tell you to buy an electric
vehicle.
Will it happen? Will they come to your house? What will you
tell them? No.
What will they do? They will give you a deduction.
For what deduction? That if you take a loan and buy an
electric vehicle, an electric car, an electric motorcycle,
then the interest that you will pay on that loan, you will
get the deduction in section 80EEB.
How much?
Amount is 1.5 lakh rupees.
1.5 lakh is not a small amount, friends.
You bought a car, you bought a luxury item, and you
thought, I will buy an electric car, because you are not
getting any deduction on a normal car.
You are getting a deduction on an electric car of 1.5 lakh
rupees.
So, friends, you have saved 1.5 lakh rupees from your gross
total income.
This is the benefit, friends.
This is the benefit of learning income tax.
Now, the people who are with you, who don't know, will they
be able to benefit from this? Remember, friends, even if
you don't lose money, you still get money.
When you lose 1.5 lakh rupees, in a way, you have earned it.
Is the point clear? Now, let's discuss the conditions.
The conditions are, read the conditions, that this loan
should be bought for an electric vehicle.
It should be sanctioned from 2014-2019.
See, how long the period is.
From 2014-2019 to 2021-23, you should get your loan
sanctioned.
From whom will you take the loan? Will you take it from a
bank? Will you take it from an NBFC? Will you take it from
a financial institution?
Friends, tell me something quickly.
I have taken a loan from my relative and I am paying
interest on it.
Deduction, yes or no? Loan from a relative.
See, friends, this is a law and the meaning of the law,
whatever is written in it, is only that.
Other than that, it doesn't have any meaning.
Whatever is written in the paper, is only that.
What is written in the paper? That from whom should you
take the loan? You should take it from a financial
institution.
So, friends, are relatives written anywhere in this? No.
So, what does it mean? No.
You have taken a loan from a relative and you are paying
interest on it.
You will not get any deduction for that.
Go to the bank, get the loan approved from the bank.
From 2014-2019 to 2021-23, go and take the loan.
And what is the fourth condition? That you are an
individual.
You are not a company.
So, you will get a loan deduction of Rs.
1.5 lakhs.
See, you will get a deduction of Rs.
1.5 lakhs.
See, sir, you have told such a great thing.
Friends, read it once.
And how long will you get this benefit? The benefit of
deduction would be available from assessment year 2021 and
till the repayment of the loan continues.
Till your repayment is not done, 10 years, 5 years, 7
years, till then you keep taking your deduction.
This is the point, friends. How much benefit you are
getting, you cannot even imagine.
You are reducing your income.
You have taken a benefit of Rs.
1.5 lakhs.
After that, if you buy a car, try to take it on loan, even
if you have money.
And try to buy an electric vehicle.
You will get a deduction of Rs.
1.5 lakhs there.