The construction of a house was completed on 31st January 2021. The owner of the house took a loan of ₹ 20,00,000 @ 696 p.a. on 1st May 2020 In this case the deduction allowable for the previous year 2020-21 towards interest on borrowings is:

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Question:The construction of a house was completed on 31st January 2021. The owner of the house took a loan of ₹ 20,00,000 @ 696 p.a. on 1st May 2020 In this case the deduction allowable for the previous year 2020-21 towards interest on borrowings is:

1.₹ 22,000

2. ₹ 24,000

3. ₹ 1,10,000

4. None of the above

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  1. The construction of a house was completed on 31st January 2021. The owner of the house took a loan of ₹ 20,00,000 @ 696 p.a. on 1st May 2020 In this case the deduction allowable for the previous year 2020-21 towards interest on borrowings is:
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