Posted by: Pdfprep
Post Date: January 21, 2021
Pushkar completed the construction of a house property on 14.8.2008 with borrowed capital of Rs.800000 @ 12%. The loan was taken on 1.4.2006 and is still outstanding. The house was used for his own residence during the entire FY 10-11. Deduction U/S 24(B) for interest on borrowed capital for FY shall be
A . 150000
B . 30000
C . 96000
D . 134400
Answer: D