AAFM Exam CWM_LEVEL_2 Topic 2 Question 93 Discussion

Actual exam question for AAFM's CWM_LEVEL_2 exam

Question #: 93
Topic #: 2

Section C (4 Mark)

Read the senario and answer to the question.

Harish wants to know what amount is eligible for deductible u/s 24 of Income Tax for housing loan repayments in computation of his Income tax liability for AY 2010-11.

ARs. 1,43,080

BRs. 1,50,000

CRs. 1,44,270

DRs. 1,43,680

Show Suggested Answer

Suggested Answer: D

by Ahmed at Nov 14, 2024, 07:39 PM

Limited Time Offer

25%

Off

Get Premium CWM_LEVEL_2 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Ezekiel

2 days ago

I'm not sure, but I think it might be C) Rs. 1,44,270. Can someone explain their reasoning?

upvoted 0 times

...

Keneth

7 days ago

Hmm, this is a tricky one. I'm torn between Options A and D. Looks like we need to double-check the calculations.

upvoted 0 times

...

Kathrine

7 days ago

Option B, of course! Who doesn't love a good ol' round number like Rs. 1,50,000? It's like a magic number for housing loan deductions.

upvoted 0 times

...

Lauran

15 days ago

I think Option C is the right answer. Rs. 1,44,270 seems more accurate based on the scenario.

upvoted 0 times

...

Peter

18 days ago

Option B is the correct answer! Rs. 1,50,000 is the maximum deductible amount for housing loan repayments under Section 24 of the Income Tax Act.

upvoted 0 times

Charisse

3 days ago

I think the answer is A) Rs. 1,43,080

upvoted 0 times

...

Bernadine

22 days ago

I agree with Vincenza, because that seems like a reasonable amount for housing loan repayments.

upvoted 0 times

...

Vincenza

23 days ago

I think the answer is B) Rs. 1,50,000.

upvoted 0 times

...