The construction of a house was completed on 31 st January, 2016. The owner of the house took a loan of ₹20,00,000 @ 6% p.a. on 1 st May, 2015. In this case the deduction allowable for the previous year 2015-16 towards i
CS Executive · Tax Laws and Practice · PYQS · June 2016
The construction of a house was completed on 31 st January, 2016. The owner of the house took a loan of ₹20,00,000 @ 6% p.a. on 1 st May, 2015. In this case the deduction allowable for the previous year 2015-16 towards interest on borrowings is —
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax
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