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    Question

    How much deduction under section 24(a) of Income Tax Act is allowable with respect to Income under the head house property?

    A 20% of NAV Correct Answer Incorrect Answer
    B 30% of NAV Correct Answer Incorrect Answer
    C 50% of NAV Correct Answer Incorrect Answer
    D 10% of NAV Correct Answer Incorrect Answer

    Solution

    DEDUCTIONS FROM ANNUAL VALUE [SECTION 24]:

    • 30% of NAV is allowed as deduction under section 24(a)
    • Interest on borrowed capital is allowed as deduction u/s 24(b)

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