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Last modified / updated Dec. 27, 2015
Computation of Income From House Property of Self Occupied and Let-out Property
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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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