Mcq confusion between A and B

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6 Points Posted on 17 March 2020
In respect of two self-occupied properties of the assessee -

A. Net Annual Value is taken as Nil

B. Gross Annual Value is taken as Nil

TAX

C. Deduction of Municipal Taxes paid is allowed

D. There is no restriction on deduction of interest u/s 24(b)
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On 17 March 2020 at 20:16 Report
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Quick Summary
This discussion clarifies confusion surrounding multiple-choice questions about self-occupied properties. It explains that while there are limits on interest deductions for self-occupied properties (Rs. 30,000 or Rs. 2,00,000 per property, with an overall limit of Rs. 2,00,000), there is no such limit for let-out properties. The correct option is D, as it addresses the deduction of interest under Section 24(b).

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Chartered Accountant
12739 Points Posted on 17 March 2020

Final answer is D 

As there is limit of interest u/s 24(b) w.r.t Self-Occupied Property is Rs. 30,000 / 2,00,000 as the same may be .

However, there is no limit of interest in case of LET OUT PROPERTY . 

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On 17 March 2020 at 21:09
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Chartered Accountant
12739 Points Posted on 17 March 2020

Important Note : OVERALL LIMIT is RS. 2,00,000 (and not per property ) 

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On 17 March 2020 at 21:12

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