<h2 class="wp-block-heading">Introduction to the New I-T Rules</h2>

<p>In a recent update, the Income Tax (I-T) rules have undergone significant changes aimed at expanding safe harbour laws. Notably, the threshold has been raised to â¹300 crore. This adjustment is designed to provide more extensive support for electric vehicle (EV) makers and battery manufacturers in India.</p>

<h2 class="wp-block-heading">What are Safe Harbour Laws?</h2>

<p>Safe harbour laws are designed to provide a degree of certainty and protection for businesses. Under the tweaked I-T rules, enhanced provisions allow EV and battery makers to avail themselves of various tax benefits. By elevating the threshold, the government aims to ensure that more companies, especially in the rapidly growing EV sector, can take advantage of these financial incentives.</p>

<h2 class="wp-block-heading">Benefits for EV Battery Makers</h2>

<p>The raised threshold to â¹300 crore is expected to facilitate a more vibrant ecosystem for electric vehicle production in India. With these tax benefits, EV battery manufacturers can improve their profitability and invest more in innovation and development. As the market continues to grow, these incentives can help create a competitive landscape where companies can thrive and contribute to sustainable technology advancement.</p>
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