Income from House Property Meaning and Different Steps

Step 1 -Compute Expected Rent

Step 2 Calculate GAV

Step 3 Calculate NAV You are here

Step 3A Treatment of Municipal Taxes

Step 3B Treatment of Unrealized Rent

Step 4 Deductions from House Property

Step 4A Treatment of Standard Deduction

Step 4B Deduction for Interest on Housing loan

Step 4B Exemption for One Self Occupied Property Amendment

More than One Property Self Occupied

Loss Under House Property Setoff of 2 lacs for even Rented Property Amendment

Property which is partly let out partly self occupied