AAFM Exam GLO_CWM_LVL_1 Topic 3 Question 87 Discussion

Actual exam question for AAFM's GLO_CWM_LVL_1 exam

Question #: 87
Topic #: 3

Pushkar completed the construction of a house property on 14.8.2008 with borrowed capital of Rs.800000 @ 12%. The loan was taken on 1.4.2006 and is still outstanding. The house was used for his own residence during the entire FY 10-11. Deduction U/S 24(B) for interest on borrowed capital for FY shall be

A150000

B30000

C96000

D134400

Show Suggested Answer

Suggested Answer: D

by Wenona at Aug 22, 2024, 01:45 PM

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Devorah

5 months ago

I'm leaning towards C) 96000, based on the interest rate and loan amount.

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Elfriede

5 months ago

I calculated it and I also got D) 134400 as the deduction amount.

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Marylin

5 months ago

I disagree, I believe the answer is A) 150000.

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Chauncey

6 months ago

Okay, time to channel my inner tax ninja. I'm gonna go with Option D, just because it sounds the most complicated. That's gotta be the right answer, right?

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Catina

5 months ago

D) 134400

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Son

5 months ago

A) 150000

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Cammy

6 months ago

I think the answer is D) 134400.

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Kyoko

6 months ago

Wow, this really makes me wish I had a degree in accounting. But what the heck, I'll go with Option B. Maybe I'll get lucky and the examiner has a sense of humor.

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Odelia

5 months ago

I'm leaning towards Option C. It seems like the most logical choice to me.

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Pamella

5 months ago

I think I'll go with Option B too. It seems like a safe bet.

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Natalie

6 months ago

Whoa, this is like a tax riddle wrapped in an interest-bearing enigma. I'm feeling lucky, so I'm gonna go with Option A. Fingers crossed!

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Valentine

6 months ago

Ah, the joys of real estate finance. I'm gonna go with Option C, just to keep things interesting, you know?

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Pete

5 months ago

I agree, Option C seems like a reasonable answer.

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Magdalene

5 months ago

I'm leaning towards Option D, but Option C could be a good choice too.

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Larae

5 months ago

I think Option C is the correct answer.

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Bong

6 months ago

Hmm, this one's a tricky one. Gotta remember those pesky interest calculations and deduction rules. Let's see, I'll go with Option D - that sounds about right to me.

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