Mohan took a loan of ₹ 6,00,000 on 1-4-2018 from a bank for construction of a house. The loan carries an interest @ 10% p.a. The construction is completed on 15-6-2020. The entire loan is still. outstanding. Compute the interest allowable for the assessment year 2021-22.
A. ₹ 60,000
B. ₹ 1,80,000
C. ₹ 84,000
D. ₹ 24,000
Answer:C
Mohan took a loan of ₹ 6,00,000 on 1-4-2018 from a bank for construction of a house. The loan carries an interest @ 10% p.a. The construction is completed on 15-6-2020. The entire loan is still. outstanding. Compute the interest allowable for the assessment year 2021-22.
A. ₹ 60,000 B. ₹ 1,80,000 C. ₹ 84,000 D. ₹ 24,000