Santhnam purchased in October, 2017 with the financial assistance by way of housing loan provided by PNB Housing Finance Ltd. a flat in Chennai to be used exclusively for his own residential purposes. Interest on the housing loan till March, 2019 paid by him was of ₹ 2,18,780. He wants to know the amount of deduction to be available to him in respect of interest so paid on the housing loan while computing his income for A.Y. 2019-20.
A. ₹ 30,000
B. ₹ 2,18,780
C. ₹ 1,50,000
D. ₹ 2,00,000
Answer:D
Santhnam purchased in October, 2017 with the financial assistance by way of housing loan provided by PNB Housing Finance Ltd. a flat in Chennai to be used exclusively for his own residential purposes. Interest on the housing loan till March, 2019 paid by him was of ₹ 2,18,780. He wants to know the amount of deduction to be available to him in respect of interest so paid on the housing loan while computing his income for A.Y. 2019-20.
A. ₹ 30,000 B. ₹ 2,18,780 C. ₹ 1,50,000 D. ₹ 2,00,000