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How to compute income from a property which is let out throughout the year? || Compute Income from house property

Compute Income from house property

Income chargeable to tax under the head “Income from house property” in the case of a let-out property is computed in the following manner:

Contents
Compute Income from house propertyOther ArticleWho is covered by tax audit (As per Section 44AB)?Amendment in section 54 of income tax actMagazine on Income Tax Special-Budget || Income Tax Amendments 2019 (Digital Product)(If you liked the Article, please Subscribe )
Particulars Amount
Gross annual value XXX
Less:- Municipal taxes paid during the year XXX
Net Annual Value (NAV) XXX
Less:- Deduction under section 24
-Deduction under section 24(a)) at 30% of NAV

-Deduction under section 24(b​)) on account of interest on borrowed capital

 (XXX)

(XXX)
Income from house property XXX​

Other Article

Who is covered by tax audit (As per Section 44AB)?

Amendment in section 54 of income tax act

Magazine on Income Tax Special-Budget || Income Tax Amendments 2019 (Digital Product)

(If you liked the Article, please Subscribe )

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(Team) LTG Publication Private Limited

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Tags: Compute Income from house propertyGross annual valueHow is income from let out property calculated?income from house property let outMunicipal taxes paid during the yearNet Annual Value
7 years ago

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