A borrowed ₹ 5,00,000 @ 12% p.a. on 1.4.2015 for construction of house property which was completed on 15.3.2019. The amount is still unpaid. The deduction of interest for previous year 2019-20 shall be:
A. ₹ 60,000
B. ₹ 96,000
C. ₹ 1,80,000
D. ₹ 2,40,000
Answer:B
A borrowed ₹ 5,00,000 @ 12% p.a. on 1.4.2015 for construction of house property which was completed on 15.3.2019. The amount is still unpaid. The deduction of interest for previous year 2019-20 shall be:
A. ₹ 60,000 B. ₹ 96,000 C. ₹ 1,80,000 D. ₹ 2,40,000