A borrowed ₹ 5,00,000 @ 12% p.a. on 1-4-2012 for construction of house property which was completed on 15-3-2016. The amount is still unpaid. The deduction of interest for previous year 2016-17 shall be:
CS Executive · Tax Laws and Practice · PYQS · June 2017
A borrowed ₹ 5,00,000 @ 12% p.a. on 1-4-2012 for construction of house property which was completed on 15-3-2016. The amount is still unpaid. The deduction of interest for previous year 2016-17 shall be:
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax
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