Mr. X has constructed one house on 01.09.2020 and it was let out ₹ 80,000 p.m. and municipal taxes paid are ₹ 35,000. The house was constructed after taking a loan from outside India and interest deductible is ₹ 2,10,000 together with pre-construction period interest but the assessee has not deducted tax at source. How much interest will be deductible under section 24(b)?
A. ₹ 2,10,000
B. Nil
C. ₹ 30,000
D. ₹2,00,000
Answer:B
Mr. X has constructed one house on 01.09.2020 and it was let out ₹ 80,000 p.m. and municipal taxes paid are ₹ 35,000. The house was constructed after taking a loan from outside India and interest deductible is ₹ 2,10,000 together with pre-construction period interest but the assessee has not deducted tax at source. How much interest will be deductible under section 24(b)?
A. ₹ 2,10,000 B. Nil C. ₹ 30,000 D. ₹2,00,000