🏠 Income from House Property Calculator

About Income from House Property

Income from house property is calculated based on the annual value of the property minus deductions.

Calculation Steps:

1. Gross Annual Value (GAV) = Annual rent or expected rent
2. Net Annual Value (NAV) = GAV - Municipal taxes paid
3. Standard Deduction = 30% of NAV
4. Deduct home loan interest paid
5. 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