Section 24A: Expenditure incurred on fast charger for electric car

24A. Expenditure incurred on fast charger for electric car Where, in an income year, a person incurs expenditure on a fast charger for an electric car used in the production of his gross income, he may deduct from his gross income, twice the amount of such expenditure in that income year. (f) in section 26(1), by repealing paragraph (g) and replacing it by the following paragraph – (g) income tax, foreign tax or special levy on banks in accordance with Part XB of the Value Added Tax Act; (g) in section 27 – (i) in subsection (2), by deleting the words “Category D, Category E, Category F or Category G” and replacing them by the words “Category D or Category E”; (ii) by inserting, after subsection (2), the following new subsection – (2A) Where the person referred to in subsection (2) is – (a) a retired person, who, in an income year, has gross income other than specified income; or 324 Acts 2019 (b) a person having a physical or mental disability, he shall in an income year, in addition to the deduction specified in subsection (2), be entitled to deduct from his net income in that income year an additional amount of 50,000 rupees. (iii) in subsection (4) – (A) by deleting the words “Category D, Category E or Category G” and replacing them by the words “Category D or Category E”; and (B) by deleting the words “or Category F”; (iv) in subsection (5) – (A) in paragraph (a), by deleting the words “or Category G”; (B) in paragraph (b), by deleting the words “65,000 rupees” and replacing them by the words “80,000 rupees”; (C) in paragraph (c), by deleting the words “45,000 rupees” and replacing them by the words “50,000 rupees”; (D) in paragraph (d), by deleting the words “30,000 rupees” and replacing them by the words “50,000 rupees”; (v) in subsection (6), by deleting the words “65,000 rupees”, “45,000 rupees” and “30,000 rupees” and replacing them by the words “80,000 rupees”, “50,000 rupees” and “50,000 rupees”, respectively; (vi) in subsection (6A) – (A) by deleting the words “Category B, C, D, E or G” and replacing them by the words “Category B, C, D or E”; Acts 2019 325 (B) by deleting the words “3 dependents” and replacing them by the words “4 dependents”; (vii) by repealing subsection (7) and replacing it by the following subsection – (7) In this section – “dependent” means – (a) a spouse; (b) a child under the age of 18; or (c) a child over the age of 18 and who – (i) is pursuing a full-time course at an educational institution or a training institution; or (ii) cannot earn a living because of a physical or mental disability; “retired person” means a person who attains the age of 60 at any time prior to the first day of July of an income year in respect of which a claim for an additional deduction is made under subsection (2A); “specified income” means the gross income derived from emoluments exceeding 50,000 rupees, specified in section 10 (1)(a)(i), or from any business. (h) by inserting, after section 27E, the following new sections –