Teaching MPPSC Assistant Professor Mock Test Series 2025 Income-tax and Corporate Tax Planning Income-tax
Assertion (A): Interest on Loan taken to construct a residential house which is let out will be deducted in full.
Reasoning (R): Interest on Loan taken to construct a residential house is allowed to the extent of Rs.1,50,000.
Codes:
1
(A) is correct and (R) is incorrect
2
Both (A) and (R) are correct
3
(A) is incorrect and (R) is correct
4
Both (A) and (R) are incorrect