Income from House Property & Deduction on Interest on Housing Loan from Your Income - Get Answers to All Your Questions Here

How to compute income from a property which is let out throughout the year?

Income chargeable to tax under the head "Income from house property" in the case of a let-out property is computed in the following manner:

Gross Annual Value i.e Rent Received = Rs 5,00,000

Less Municipal Taxes Paid = Rs. 20,000

Net Asset Value (NAV) = Rs. 4,80,000

Less : Deduction u/s 24

Deduction U/s 24(a) [30% of NAV) = Rs. 1,44,000

Deduction U/s 24(b) = Rs. 54,000

(Interest on House Loan)

Income from House Property = Rs. 2,82,000

How to compute actual rent while computing gross annual value of a property which is let-out throughout the year?

How much interest on housing loan can be claimed as deduction?

Is rental income from sub-letting chargeable to tax under the head “Income from house property”?

Under which head is the rental income from a shop charged to tax?

What is the tax treatment of composite rent when the composite rent pertains to letting of building along with other assets?

Which rent to be considered for Gross Annual Value - Actual Rent / Fair Rent or Municipal Value ?

While computing income chargeable to tax under the head “Income from house property” in the case of a let-out property, what are the expenses to be deducted from gross annual

Can interest paid on loans taken from friends and relatives be claimed as deduction while calculating house property income?

What is self-occupied property?

How to compute income from self occupied property?

What will be the tax implications if a person occupies more than one property for his residence? Can he treat all the properties as self occupied (SOP) and claim gross annual value (GAV) as Nil?