Narendra has purchased a house in Ajmer for self-residence on 10.04.2020 for ₹45 lakh. (Stamp duty value also the same). The house was purchased with assistance of bank loan which was sanctioned on 25.03.2020 and disburs
CS Executive · Tax Laws · PYQS · December 2021
Narendra has purchased a house in Ajmer for self-residence on 10.04.2020 for ₹45 lakh. (Stamp duty value also the same). The house was purchased with assistance of bank loan which was sanctioned on 25.03.2020 and disbursed on 05.04.2020. Narendra has paid interest of ₹4.26 lakhs on such loan during the P.Y. 2020-21. State the treatment of interest paid by him be given for claiming deduction as per provisions of Act, while filing return of Income for A.Y. 2021-22:
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax Act, 1961
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