Geeta aged, 66 years received dividend of ₹15,00,000 from ABC Ltd in P.Y. 2020-21. Share of the company were purchased by her by taking loan of ₹50,00,000 from a financial institution. Interest paid on loan so taken for
CS Executive · Tax Laws · PYQS · December 2021
Geeta aged, 66 years received dividend of ₹15,00,000 from ABC Ltd in P.Y. 2020-21. Share of the company were purchased by her by taking loan of ₹50,00,000 from a financial institution. Interest paid on loan so taken for the purpose of making investment in the shares of ABC Ltd for the year was of ₹6,00,000. State the income which would be subject to tax under other sources in the hands of Geeta for A.Y. 2021-22:
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax Act, 1961
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