Contact @ 8368829181

Taxinfo.in
- Jan 29, 2018
- 1 min read

Computation of Income under House Property

XXXB) Municipal Value

XXXC) Higher of A or B

XXXD) Standard Rent

XXXE) Expected Rent (Lower of C or D)

XXXF) Actual Rent

XXXG) Gross Annual Value (higher of E or F )

XXXH) Less: Municipal Tax

XXXI) Annual Value (G – H)

XXXJ) Standard Deduction (30% of I)

XXXK) Interest payable on borrowed capital

XXXL) Income from House Property (I – J – K)

XXX

Other Point

In case if assessee have more than one house property then first separate income (or loss) for each house property is calculated and then it is combined to get Income/Loss under House Property head.

House Property

0 views0 comments

Recent Posts

Standard Deduction – Section 24a

Standard Deduction of 30% of Annual Value is allowed as deduction to every person. Any type of expenses incurred by the assessee for acquiring, constructing, repairing, reconstructing, maintaining, re

Deemed Ownership – Section 27

In the following cases the person is deemed to be owner of the property even if they are not the legal owners of the property:- 1) An individual who transferred his property without adequate considera

Deduction of Interest on Housing Loan – Section 24b

Applicable for the financial year 2018-19 and 2019-20 Introduction Section 24b of income tax act allows deduction of interest on home loan from the taxable income. Such loan should be taken for purcha