Mr. Ahmed acquired a property in April, 2016 for self-residential use. The loan interest payable to State Bank of India for the financial year 2016-17 amounts to ₹ 2,10,000. The amount eligible for deduction under sectio

CS Executive · Tax Laws and Practice · PYQS · June 2017
Mr. Ahmed acquired a property in April, 2016 for self-residential use. The loan interest payable to State Bank of India for the financial year 2016-17 amounts to ₹ 2,10,000. The amount eligible for deduction under section 24 is :
(A) ₹ 30,000
(B) ₹ 2,00,000
(C) ₹ 2,10,000
(D) ₹ 1,50,000

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax

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