Income Tax · Calculator
Income from House Property
Compute income or loss under the head house property — gross annual value, municipal taxes, the 30% standard deduction and interest on borrowed capital u/s 24(b).
Indicative. For a self-occupied property, GAV is nil and the interest deduction is capped at ₹2,00,000. For let-out property, NAV = rent − municipal taxes, less 30% standard deduction and actual interest. A resulting loss set off against other heads is capped at ₹2,00,000 per year. These deductions apply under the old regime. Confirm the facts.