Calculate House Property Income
Gross Annual Value (GAV):
₹0
Less: Municipal Taxes:
₹0
Net Annual Value (NAV):
Less: Standard Deduction (30%):
₹0
Less: Home Loan Interest:
₹0
Taxable Income from House Property:
₹0
About Income from House Property
Income from house property is calculated based on the annual value of the property minus deductions.
Calculation Steps:
- Gross Annual Value (GAV) = Annual rent or expected rent
- Net Annual Value (NAV) = GAV - Municipal taxes paid
- Standard Deduction = 30% of NAV
- Deduct home loan interest paid
- Result = Taxable income from house property
Property Types:
- Self Occupied: NAV is NIL, only home loan interest deductible (max ₹2 lakh)
- Let Out: Full calculation applies, no limit on interest deduction
- Deemed Let Out: 2nd self-occupied property treated as let out
Home Loan Interest Deduction:
- Self-occupied: Maximum ₹2,00,000 per year
- Let out property: No maximum limit
- Additional ₹1,50,000 under Section 80EEA for first-time home buyers