Income Tax Calculation

Computation of Income From House Property of Self Occupied and Let-out Property

Click here for provisions of Income From House Property Under the Income Tax ACT, 1961 and for details of steps for computation of Income From House Property

(A) Income from Self-Occupied Property
Interest Paid / Accrued on Housing Loan (Current year's interest plus 1/5th of interest pertaining to pre-construction period)
2. Income from Self-occupied House Property
(B) Income from Let-out Property
1. Annual Letable Value / Rent Received or Receivable (if let out for whole of the year, lower if let out for part of the year)
2. Less: Municipal Taxes Paid During the Year
3. Less: Unrealized Rent
4. Net Annual Value (1-(2+3))
5. Less: Deductions from Net Annual Value
i. Standard Deduction @ 30% of Net Annual Value
ii. Interest on Housing Loan (Current year's interest plus 1/5th of interest pertaining to pre-construction period)
6 Income from Let-out House Property
(C) Total Income from House Property (A + B) (Self Occupied & Let-out House Property)

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Tax Tools
Income Tax Calculator FY 2018-19	Income Tax Rates FY 18-19
Tax Calculator for Salaried / Pensioners FY 2018-19	Tax Deductions / Rebate Allowable
Parents May Reduce Tax outgo	Kids may reduce your Tax outgo
How Much Tax Can You Save	Expenses that Save Tax
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LTCG Tax on Shares / Mutual Fund	Long Term Capital Gain Tax
Taxable Amount of Leave Encashment	Income from House Property
Tax Return Mistakes Causes Notice	Steps Upload Form 10E u/s 89
Bank's RTGS Fillable Forms
SBI \| Allahabad Bank \| Axis Bank \| BOB \| AU Bank \| BOI \| BOM \| Canara Bank \| Citi \| CBI \| Corporation Bank \| DCB \| Dena Bank \| IOB \| Dhanlakshmi \| IDBI \| DBS \| OBC \| HDFC \| PNB \| Indusind Bank \| PSB \| IDFC \| J&K \| UBI \| UCO \| Karnataka \| Vijaya \| RBL \| Standard Chartered \| South Indian Bank \| TMB \| Yes Bank \| Kotak Bank \| Indian Bank \| Andhra Bank \| LIC Receipt of policy payment through NEFT
Bank's Pay in Slip in Fillable Format
Axis Bank \| SBI \| PNB \| OBC \| Indusind Bank \| IDBI \| ICICI Bank \| Kotak Mahindra Bank \| Citi Bank\| Yes Bank \| South Indian Bank \| DCB Bank
Commonly Used Fillable Forms
Income Tax Forms	Challan 280
Raksha TPA Calim Form	Safeway TPA Claim form
PPF Froms	NPS Froms
LIC Forms	Post Office Forms
RTO Forms	PAN - TAN Forms
Atal Pension Yojana Form	United India Insurance Claim Form
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NPS Calculator (PSU / Govt. Employees)	NPS Features & Benefits
NPS Calculator (All Citizen)	NPS Partial Withdrawal Norms
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Home Remedies for Common Ailments	Important Health Tips
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Computation of Income From House Property of Self Occupied and Let-out Property

Click here for provisions of Income From House Property Under the Income Tax ACT, 1961 and for details of steps for computation of Income From House Property

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