2024 Tax Credits For Hybrid Vehicles Cars In India. We've had a policy framework where the tax on electric vehicles is 5% as compared to 48% on hybrids, which we intend to continue over a long period of time,. India will retain its current tax structure for electric and hybrid vehicles for an extended period, the government's g20 sherpa, amitabh kant, announced on tuesday.

The $7,500 tax credit for new electric vehicles will be easier for many consumers to claim in 2024, but it may be more difficult for others. Starting january 1, 2024, in order to claim tax credits for electric vehicles and hybrid cars, the credit eligibility and the amount will be determined at the time of the sale.