Mr. Srinivasan has taken a loan from a Financial institution for the purchase of house during the Previous year 2020-21. The loan was sanctioned in the month of April 2020 but was disbursed on 1.7.2020. The stamp duty valuation of the house was ₹42 lakhs. The amount of loan was ₹ 40 lakhs. What will be the amount of deduction relating to the interest on loan in the P.Y. 2020-21 if the rate of interest is 12% p.a.₹ The total interest will be ₹ 3,60,000 (₹ 40,00,000 × 12% for 9 months) for the P.Y. 2020-21
A. ₹ 1 50,000 u/s 80EEA
B. ₹ 50,000 u/s 80EE
C. ₹ 2,00,000 u/s 24(6) and ₹ 1,50,000 u/s 80EEA
D. ₹ 2,00,000 u/s 24(b) and ₹ 50,000 u/s 80EE
Answer:C
Mr. Srinivasan has taken a loan from a Financial institution for the purchase of house during the Previous year 2020-21. The loan was sanctioned in the month of April 2020 but was disbursed on 1.7.2020. The stamp duty valuation of the house was ₹42 lakhs. The amount of loan was ₹ 40 lakhs. What will be the amount of deduction relating to the interest on loan in the P.Y. 2020-21 if the rate of interest is 12% p.a.₹ The total interest will be ₹ 3,60,000 (₹ 40,00,000 × 12% for 9 months) for the P.Y. 2020-21
A. ₹ 1 50,000 u/s 80EEA B. ₹ 50,000 u/s 80EE C. ₹ 2,00,000 u/s 24(6) and ₹ 1,50,000 u/s 80EEA D. ₹ 2,00,000 u/s 24(b) and ₹ 50,000 u/s 80EE