Extended renewable energy tax credits have been included in a $1.4 trillion federal spending package alongside a $900 billion COVID-19 virus relief spending bill. The solar investment tax credit (ITC), which was scheduled to drop from 26% to 22% in 2021, will stay at 26% for two more years. The wind industry also received a […]
Delhi government exempts road tax for battery operated vehicles
The government plans to provide a charging facility for electric vehicles every three kilometres. For this, private sectors will also be encouraged on a large scale. All owners of battery-powered vehicles in Delhi will no longer have to pay road tax under the new electric vehicle policy. The announcement was made by Delhi Transport Minister […]
Solar companies protest against the new land tax
Jaipur: Solar and wind power developers are receiving notices from state finance department for payment of land tax of Rs 2 per sq mtr imposed on them for the first time effective from April this year. The industry, which has been resisting the tax, has asked for time, even as it is raising the issue […]
Want to save tax over and above 80C limit of Rs 1.5 lakh? Invest in these schemes
It’s that time of the year when you need to submit your investment proof at your office to save the tax deducted at source (TDS) by your employer from your salary. It’s that time of the year when you need to submit your investment proof at your office to save the tax deducted at source […]
Tax Credits for Renewables Get Another Shot in Congress
Democrats in the U.S. House Ways and Means Committee on Tuesday unveiled draft legislation in the latest attempt to extend tax credits for renewable technologies. The Growing Renewable Energy and Efficiency Now, or GREEN, Act would extend the federal Investment Tax Credit for solar and offshore wind for five years and keep a 60 percent […]
Nearly 1,000 Solar Companies Rally Behind Proven, Bipartisan Investment Tax Credit
WASHINGTON, D.C.: Nearly 1,000 companies from across the U.S. solar industry supply chain today sent a letter to Congress calling for the extension of the Section 48 and Section 25D solar investment tax credits (ITC). The Solar Energy Industries Association (SEIA) is leading a national coalition to extend the ITC, one of the most successful […]
Electric Vehicles To Get Major Boost As Govt Proposes GST Reduction, Tax Benefits
Total taxbenefits could go up to Rs 2.5 lakh for EV buyers GST on EVs set to go down from current 12 to 5 per cent. Buyers availing loans for EVs can save up to Rs 2.50 lakh on the interest rate, depending on their income tax bracket by the end of loan tenure. Govt […]
Budget likely to charge up electric vehicle push with tax incentives
The govt is also examining extension of tax holiday for units operating or planning to set up operations in special economic zones With promotion of clean energy high on government agenda, the upcoming Budget is likely to incentivise manufacturing of electric vehicles (EVs) in the country. This is also expected to drive foreign direct investment […]
GST Council to consider reducing tax on electric vehicles: Anurag Thakur
The GST Council will consider reducing tax on electric vehicles, which are seen as more environment-friendly, and the matter is pending before it. NEW DELHI: The GST Council will consider reducing tax on electric vehicles, which are seen as more environment-friendly, and the matter is pending before it, Minister of State for Finance Anurag Thakur […]
Will the Renewables Industry Seize the Opportunity of Opportunity Funds?
A new tax incentive could mean big money. But questions remain about its equity implications and whether the industry will use it. Clean energy advocates are working to raise awareness about a “giant money fire hose” made available to the industry starting this year. The glut of cash, tied to a portion of the federal […]