Q. Interest on borrowed capital accrued up to the end of the previous year to prior to the year of competition of construction is allowed__________
(A)
As a deduction in the year of completion of construction
(B)
In 5 equal annual installments from the year of competition of construction.
(C)
In the respective year in which the interest accrues
(D)
Up to Rs.30,000 on Rs.20,000.
Correct Answer -
Option(B)
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