[qaqa]

In the Max Lux trim, do the ventilated seats have a hard plastic back? Does that compromise the effective legroom in the back seat?

[cool_dube]

Originally Posted by prateekchanana

If you take loan of 10 lacs and pay interest 50k in an year you can only claim a deduction of 50k and not the entire 1.5 lacs

Originally Posted by Siddarth_Ramani

Yes it is applicable till the closure of loan. Meaning you can get the benefit for subsequent assessment years also.

Please note that while the deduction can be spread across multiple assessment years (of course, within the loan tenure only), it is capped at INR 1,50,000. As an example - if I am paying an interest of INR 50,000 per year over a loan tenure of 5 years, I will be able to avail this benefit for first 3 years only.

Originally Posted by Durango Dude

point of owning an EV is to reduce carbon foot print

It is one of the key aspects but NOT the only one. "Ridiculously low running costs" comes to mind unless one owns an oil well For anyone who has been able to overcome his/her stigma and driven an EV even once, it is very very difficult to NOT get floored by the silent, refined, and zippy driving experience. More than anything else, EV-adoption is a mental block which is difficult (but not impossible) to overcome. I say this after hesitantly getting on the EV bandwagon about 5 years back, and now there is no looking back for me

[varkey]

Originally Posted by cool_dube

Please note that while the deduction can be spread across multiple assessment years (of course, within the loan tenure only), it is capped at INR 1,50,000. As an example - if I am paying an interest of INR 50,000 per year over a loan tenure of 5 years, I will be able to avail this benefit for first 3 years only.

Could you please point to some authentic documentation where this is mentioned? In all documentation around Section 80EEB I’ve seen so far the 1.5L cap is per assessment year, no where does it say it’s for an assessee over multiple assessment years.

If you notice all income tax caps are per assessment year, I’m yet to see one which is per assessee. It appears only you seem to be posting in multiple threads about the cap being per assessee. So I’d really appreciate if you can point us to someplace this is specifically mentioned.

Linking to another post of mine (Review: The Tata Nexon EV) as well.

[arvindmanju]

Originally Posted by cool_dube

Please note that while the deduction can be spread across multiple assessment years (of course, within the loan tenure only), it is capped at INR 1,50,000. As an example - if I am paying an interest of INR 50,000 per year over a loan tenure of 5 years, I will be able to avail this benefit for first 3 years only.

If we calculate Max savings in terms of income tax if one is in 30% tax bracket is upto ₹45K for one car, as against the max tax saving of ₹45k per year (considering the tax component is on higher side.)

[sai47]

Had a Nexon Ev booking made in February that was up for delivery this week.
Changed it to Nexon Ev Max on the day of launch. My sales representative mentioned that the waiting period being quoted by Tata Motors was 24 weeks in Pune for the Max version. Anyone who has changed their booking to the Max version?? What was the waiting period specified?
Also don’t companies usually stock up on cars before the official launch so that they can cater to the initial pre bookings that were made?
I don’t understand even if the booking was made on Day 1 of launch why the waiting period would be 6 months approx

[varkey]

I’m not 100% sold on the Nexon EV Max yet but I made an online booking for Lux 3.3 kW variant on Friday night and paid Rs 21,000. Thought it’s good to be in the queue if at all I want to go for it considering the publicised waiting period is around 4 months. This my first online booking for a vehicle and I’m not sure if it’s the same with other manufacturers, but it didn’t give a warm feeling about the process. I entered the name, address, variant online and paid the amount, received a confirmation email but the email said I’d be getting an order details email separately which I’m yet to receive. Then yesterday ie the next day got a call from the SA at the dealership I selected saying they’ve received the online booking and asked me to share KYC docs (Aadhaar and PAN) which I shared. Surprisingly the SA asked me for the variant and colour again (it seemed like he wasn’t aware of what was given in my online booking). After sometime received an SMS as below

Dear <name>, Thank you for showing interest in Nexon EV 2.0. Your enquiry is being handled by TMPC PRD who can be reached at 9881539634 for any assistance. Your request number is xxxxx.

Is this the final booking confirmation cause it didn’t seem like one? I couldn’t follow up with the SA yesterday but during the initial chat with him he said I’d be receiving the booking confirmation details soon. Will check with him tomorrow.

The part that I didn’t like much is the fact that despite the online booking it appeared like the SA had to log the booking just like a regular offline booking. They could have asked for KYC info online and avoided the manual steps entirely. My hope was that the online booking entirely bypassed the dealer except for the final delivery.

[cool_dube]

Originally Posted by varkey

Could you please point to some authentic documentation where this is mentioned?

Please rest assured that I am responsible enough to not share information on this forum unless I am 100% sure about it I have a confirmation on this from multiple folks, including my CA as well as a few EV owners who have availed loans. If you are still not convinced, please refer to point no. 2 on this article, hosted on the website of Income Tax Department. Cannot get more authentic than this now, can it?

Originally Posted by varkey

This my first online booking for a vehicle and I’m not sure if it’s the same with other manufacturers, but it didn’t give a warm feeling about the process.

Don't worry. This is exactly how all online car bookings work.

[varkey]

Originally Posted by cool_dube

If you are still not convinced, please refer to point no. 2 on this article, hosted on the website of Income Tax Department. Cannot get more authentic than this now, can it?

Honestly I am not, cause the sub-section 2 clearly says the deduction of 1.5L is per assessment year. Also, the computation of total income is always per assessment year, never over the life time of the assessee or a loan.

The deduction under sub-section (1) shall not exceed one lakh and fifty thousand rupees and shall be allowed in computing the total income of the individual for the assessment year beginning on the 1st day of April, 2020 and subsequent assessment years.

Any deduction that we have available is for a given assessment year, take it 80C or 80D or 80CCD and in each of them you'd see language used "shall not exceed so and so amount", does that mean all of them is once in a life time? Just to give an example, deduction under section 80EEA for first-time home owners with some conditions which was available till March, 2022. Are you saying even for 80EEA the deduction is only 1.5L during the entire tenure of the loan? The wording is very similar.

https://incometaxindia.gov.in/Acts/F...0000074073.htm

[cool_dube]

Originally Posted by varkey

Honestly I am not

In the interest of not digressing from the main topic of this thread, this is my last post on this topic. If you reckon that you know more than CAs and folks who have been availing this benefit for more than 2 years now, I rest my case

[TorqueIndia]

Nexon EV MAX deliveries commenced! As expected gen 1 owners are upgrading to MAX !




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[rkmunjuluri]

Originally Posted by TorqueIndia

Nexon EV MAX deliveries commenced! As expected gen 1 owners are upgrading to MAX !
Attachment 2311460

Attachment 2311461

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Congratulations on the new car, please provide your review of the car and specially the overall experience of delivery from Tata

[Gannu_1]

Guys, request to please discuss about the Nexon EV Max on this thread and posts related to EVs, EVs vs ICE cars, economies of scale on EVs etc on the other thread. Thanks for the understanding!

[DarthVeda]

Originally Posted by TorqueIndia

Nexon EV MAX deliveries commenced! As expected gen 1 owners are upgrading to MAX !

He has bought this car in addition to his existing Nexon EV. If I recall, he is using it for his business purpose and thus the requirement.

[Petrolicious]

I'm surprised they started deliveries already, I booked the car 3 days before it was launched and was still told that it would take at least 4 months to receive the car. When I attempted to highlight the fact that 4 months is awfully long for someone who booked it even before the car was launched, the SA justified the timeline by saying that the delivery for their TD vehicle would take a month. With the global chip shortage and newer cars drowning in tech, the whole car purchasing experience has become such a drag.

Moreover, the SA had no pictures of the XZ+ variant interiors. I was told that the seats would be fabric, but what colour? Do the plastics in the car also get a different colour?

[qaqa]

Evo India's review of Nexon Max has a couple of interesting comments which caught my attention.

They claim that the floor height of Max has increased by 20mm compared to the Nexon EV. All other reviews are quoting a 10mm increase. Would be good to understand what the actual position is. A 20mm rise in floor height would be a definite compromise in rear seat comfort.

They also claim that structural modifications needed to be made in the floor to accommodate EV Max's larger battery. If this is true, crash ratings of ICE variants of Nexon surely would not be applicable to EV Max. We should treat the EV Max as unrated for crashworthiness till a specific test is undertaken for EV Max.

None of the other reviews I found online referred to these points. Not sure of the source from where Evo India gathered these inputs.