Sanghvi purchased her first house at Vijayawada for occupation on 10th June, 2020 for ₹80 Lakhs (stamp duty value being the same) with bank loan sanctioned on 1st June, 2020 she paid on interest of ₹4.5 Lakhs during the
CS Executive · Tax Laws · PYQS · June 2022
Sanghvi purchased her first house at Vijayawada for occupation on 10th June, 2020 for ₹80 Lakhs (stamp duty value being the same) with bank loan sanctioned on 1st June, 2020 she paid on interest of ₹4.5 Lakhs during the Previous Year 2021-22. What is the tax treatment of interest paid by her for the Assessment Year 2022-23? (Assessee has not opted for section 115BAC).
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Income Tax Act, 1961
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