Manasavi has to pay ₹ 80,000 to the cooperative society annually against the house allotted to her by the society. She initially paid a sum of ₹ 1,00,000 to become a member of the housing cooperative society during the previous year 2019-20. The term of the payment was for 10 years. The amount allowed to be deducted under section 80C for the previous year 2020-21 will be X:
A. 1,50,000
B. 80,000
C. 90,000 \(\left(80,000+\frac{1,00,000}{10}\right)\)
D. 1,80,000.
Answer:B
Manasavi has to pay ₹ 80,000 to the cooperative society annually against the house allotted to her by the society. She initially paid a sum of ₹ 1,00,000 to become a member of the housing cooperative society during the previous year 2019-20. The term of the payment was for 10 years. The amount allowed to be deducted under section 80C for the previous year 2020-21 will be X:
A. 1,50,000 B. 80,000 C. 90,000 \(\left(80,000+\frac{1,00,000}{10}\right)\) D. 1,80,000.