Over how many equal instalments is qualifying pre-construction interest deducted under section 22(1)(c) of the Income-tax Act, 2025?
Question and options
Over how many equal instalments is qualifying pre-construction interest deducted under section 22(1)(c) of the Income-tax Act, 2025?
Two
Five
Three
Four
Answer and explanation
Correct answer: B - Five
Section 22(1)(c) of the Income-tax Act, 2025 allows interest for the period before the tax year of acquisition or construction in five equal instalments, for that tax year and each of the four following tax years.
Practice for these exams
-
All India Bar Examination (AIBE)
Subject revision
See pack details on LawMint.net -
IIT Kharagpur LL.M. Entrance
Subject revision
See pack details on LawMint.net -
CLAT PG
Subject revision for a passage-based exam
-
AILET PG
Subject revision
Related exam syllabi
More solved explanations in Income tax - basic concepts, residence & heads of income
- Under section 48 of the Income-tax Act, 2025, read with Schedule IX, which of the following businesses can claim the deduction for deposits into the special…
- A grandmother gifts a let-out flat to her 12-year-old grandson. The rent is included in his father's total income under section 99 of the Income-tax Act, 2025.…
- Which of the following is/are excluded from 'capital asset' under section 2(22) of the Income-tax Act, 2025? (I) Personal effects, that is, movable property held…
- Which of the following is listed in Schedule VII of the Income-tax Act, 2025, which names persons who are not liable to pay income-tax on their total income?
- An established business earns income between 1 April 2026 and 31 March 2027. To which tax year does this income belong under the Income-tax Act, 2025?