Javed borrowed ₹5,00,000 @ 12% p.a. on 1st April, 2013 for construction of let out house property whose construction was completed on 15th March, 2019. The loan was repaid on 31st August, 2021. The deduction of interest
CS Executive · Tax Laws · PYQS · December 2022
Javed borrowed ₹5,00,000 @ 12% p.a. on 1st April, 2013 for construction of let out house property whose construction was completed on 15th March, 2019. The loan was repaid on 31st August, 2021. The deduction of interest for previous year 2021-22 shall be:
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax Act, 1961
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