Teaching UGC NET Mock Test Series 2025 (Paper 1 & 2) Income-tax and Corporate Tax Planning Income-tax
Statement I: Municipal tax relating to the current year can be deducted even if it is not paid
Statement II: Interest on loan taken for purchase relating to the current year can be deducted even if it is not paid
Choose the correct option
1
Statement I is correct, Statement II is incorrect
2
Statement I is incorrect, Statement II is correct
3
Both Statements I and II are correct
4
Both Statements I and II are incorrect