TaxSpace Consultants

Electric Vehicles(EVs) adopt the new age technology that reduces the impact on fossil fuels and will boom this decade. To promote the use of battery-operated EVs, the government provides a FAME II subsidy and a tax deduction for interest paid on purchasing an EV.

The Income Tax Act provides that every individual who has been allotted a Permanent Account Number (PAN) as on the 1st day of July, 2017, and who is eligible to obtain an Aadhaar number, have to mandatorily link their Aadhaar and PAN before 31.03.2023 with Rs.1000 fee payment