The document calculates income or loss from house property. It requests details about loan dates, construction completion dates, and dates of occupying or letting the property. It then calculates rental income, expenses, interest deductions, and the net income or loss for self-occupied and let out properties separately in the blue cells.
The document calculates income or loss from house property. It requests details about loan dates, construction completion dates, and dates of occupying or letting the property. It then calculates rental income, expenses, interest deductions, and the net income or loss for self-occupied and let out properties separately in the blue cells.
The document calculates income or loss from house property. It requests details about loan dates, construction completion dates, and dates of occupying or letting the property. It then calculates rental income, expenses, interest deductions, and the net income or loss for self-occupied and let out properties separately in the blue cells.
The document calculates income or loss from house property. It requests details about loan dates, construction completion dates, and dates of occupying or letting the property. It then calculates rental income, expenses, interest deductions, and the net income or loss for self-occupied and let out properties separately in the blue cells.
Calculation of Income / (Loss) from House property
Enter details in yellow colored cells only. Final values are calculated in the blue colored cells
- Date of taking Loan (Date format MMM/YYYY)
- Date of Completion of construction of the property / Date of Occupying the property (Date format MMM/YYYY) 1/2/2023 3/31/2023 -Self Occupied Property Amount (Rs.) a) Interest for the current financial year i.e### - 2023 b) Add: 1/5th of the interest paid prior to the year of completion Total Loss from self occupied property - -Let out property - Date of taking Loan (Date format MMM/YYYY) - Date of Completion of construction of the property / Date of Occupying the property (Date format MMM/YYYY) - Date of Let out of property (Date format MMM/YYYY) Amount (Rs.) Rental Income (A) Less Municipal Taxes (B) Net Annual value (A-B) - Less: Standard deduction (30% of Net Annual Value) - Less: (a) Interest for the current year i.e. ### - 2023 (b) 1/5th of pre-construction interest paid prior to year of completion Total Interest - Net Income/(Loss) from let out house property -